DHFL Creditors claimed more than 87000/- crore under IBC process

As per the data on the debt-laden shadow lender’s website, Lenders, bondholders, employees and other creditors to Dewan Housing Finance Corp. Ltd (DHFL) have claimed dues of ₹87,905.6 crore under the insolvency resolution process.

However, this data does not include holders of fixed deposits (FD), to whom DHFL owed ₹6,188 crore as on 6 July. The claims were submitted to DHFL’s administrator R. Subramaniakumar, a former managing director and chief executive of Indian Overseas Bank.

As per latest data, financial creditors, including bondholders, have claimed dues of ₹86,892.3 crore. While bondholders have claimed ₹45,550.07 crore, lenders and other financial creditors have sought ₹41,342.23 crore from the mortgage lender.

Amongst all the claimers, State Bank of India (including SBI Singapore) is the largest lender with a claim of ₹10,082.9 crore, followed by Bank of India ( ₹4,125.52 crore), Canara Bank ( ₹2681.81 crore), National Housing Bank ( ₹2,433.79 crore), Union Bank of India ( ₹2,378.05 crore), Syndicate Bank ( ₹2,229.29 crore) and Bank of Baroda ( ₹2,074.92 crore).

Apart from this, there has been a claim of ₹950.53 crore from a group of four real estate companies too.

These have been classified as “creditors other than financial and operational creditors”. The largest of these is from Neelkamal Realtors Tower Pvt. Ltd of ₹757.65 crore. Neelkamal is a subsidiary of Mumbai-based real estate company DB Realty.

Subramaniakumar has accepted  claims of ₹80,979.85 crore from financial creditors and ₹1.81 crore from employees. The claims from operational creditors or the four real estate companies cited above are yet to be admitted by him.