DSP Mutual Fund recoveres entire dues of Rs 150 cr from DHFL

Get real time updates directly on you device, subscribe now.

DSP Mutual Fund recoveres entire dues of Rs 150 cr from DHFL

DSP Mutual Fund recoveres entire dues of Rs 150 cr from DHFL

Asset manager DSP Mutual Fund has recovered the entire dues of Rs 150 crore from the troubled mortgage lender DHFL.

The third-largest pure-play mortgage lender had borrowed money from the fund house through the commercial paper route, but paid only half of the dues in June.

DHFL has been the most severely impacted large financiers in the NBFC crisis, that has engulfed the world of finance since September last when industry major IL&FS went belly up. It has defaulted on multiple commitments and has also been forced to sell off non-core assets as the promoters seek to repay loans.

DHFL owes around Rs 1 lakh crore to the system, including over Rs 50,000 crore to banks, while the rest are from entities like mutual funds. It is in talks with bankers for a restructuring and the lenders are mulling a lifeline of Rs 7,000 crore, according to media reports.

In a statement, DSP Mutual Fund Monday said the remaining amount of Rs 75 crore was paid last Saturday, resulting in a “complete recovery” for the commercial papers held its various mutual fund schemes.

“Over the past two months we have been engaged with the issuer for the pending recoveries,” it said.

After the payment, there has been a positive impact on seven of the funds, it said, listing out the exact valuation gains which range from 0.19 percent to 2.73 percent.Not sure which mutual funds to buy? Download moneycontrol transact app to get personalised investment recommendations.

Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their original owners.

2019-09-10 08:57:12

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

Get real time updates directly on you device, subscribe now.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Do NOT follow this link or you will be banned from the site!