Bombay HC allows DHFL to pay Banks and NBFCs with securitization agreements

Omkar Gokhale November 16 2019

Granting relief to the Banks, Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs), the Bombay High Court allowed Dewan Housing Finance Corporation Limited (DHFL) to make payments with respect to securitization agreements.

The Banks including State Bank of India, Indian Overseas Bank, Union Bank, Bank of India, IDFC First Bank, Bank of Baroda, DCB Bank, HDFC Bank, Standard Chartered Bank, and Financial institutions such as Aditya Birla Finance had moved the Court seeking to vacate order restraining payments by DHFL to them.

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