For Confused and Angry NCD/ FD Investors of DHFL, Catalyst Trusteeship Finally Explains the Resolution Plan Math
Maya M 02 October 2021
Over the past two days, confused and angry DHFL investors were flooding social media with complaints of not receiving payments as per their claims. Many complained of having received a raw deal by receiving a far lower amount (compared to what they were anticipating).
 
Catalyst Trusteeship, the debenture trustee for Dewan Housing Finance Ltd (DHFL)’s non-convertible debentures (NCDs), has finally shared the reasoning for the basis of repayment of DHFL retail investors which includes NCDs (secured and non-secured) and fixed deposits (FDs).
 
Catalyst has claimed that the settlement of claims of NCD- and FD-holders of DHFL, as per NCLT order dated 7th June, has been calculated by advisors of committee of creditors (CoC). The broad principle of settlement of claims as per the order of NCLT, as calculated by advisors of CoC is given below.
 
However, investors are requested to refer to the information provided through the virtual data room (VDR) - smartroom portal from time to time. Secured NCD categorisation is done on the basis of the total investment of the first NCD-holder's (PAN) in a particular series.
 
Based on the total investment of the NCD-holder, across different series, the following treatment is accorded as per the approved distribution mechanism:
 
 
The payments have been made by credit to bank accounts and demat accounts, as case may be. In case bank account details are not available or incorrect, they are being paid by way of demand draft and being sent to their registered address, by speed post.
 
A special facility has been made available on website, from where NCD / FD-holders can get their settlement details. Investors can mention permanent account number (PAN) (for NCDs)  and the customer ID (for FDs) and a one time password (OTP) will be generated and sent to the registered mobile number / email ID. Investors can check on link below: https://www.catalysttrustee.com/dhfl-ncd-recovery-details/
 
Catalyst Trusteeship has shown very little interest and a total lack of communication throughout the IBC proceedings of DHFL, irate investors said. The same thing is also happening with respect to the DS Kulkarni Developers (DSK) case. This makes Catalyst’s claims of “enhanced speed of ease of communication in default cases of debentures” appear laughable. 
Comments
bmitra51
3 hours ago
Requesting Central Government to look in to the DHFL settlement with the Investor,so that they can get relief.
kanakdas32
1 day ago
There is no doubt that the claim settlement against whatever mechanism applied by NCLT, has been against the interest of the investors and may inspire other corrupt companies to put their hands off and force the investors to a raw deal. How long should the law enforcing agencies in the country and the economic watchdogs let the miscreants scot-free at the cost of the investors money? In my case, my NCDs contained cumulative interest as well, and figured in the claims liability displayed in the official site of Catalyst Trustee. The cumulative interest was duly certified by DHFL with TDS remittance to CBDT as per Form 16 issued to me. I confirmed it from 26 AS of Income Tax, and declared the same in my ITR for 2019-20 FY. I had also paid additional tax as per my slab. But I have received only a truncated Principal Amount. When both the Principal and Interest amount were part of the resolution process due from the debtor, why was there only part performance? Should we not be angry and confused for this raw deal involving a shrewd, tactical way to deceive innocent and gullible investors?
tapankumarsanyal
1 day ago
From the DHFL experience I would suggest all the Sr. Citizens, please please don't invest your hard earned fund in PRIVATE organization for better interest and you will certainly loose your money and no one inclusive of Hon'ble courts would save you to recover the money.
rajendrakakhandki
1 day ago
From silence& no response for public reaction connivance & active involvement of all agencies in disastrous decision for denying rightful claims of retail investors is clear. Now it is for the so called welfare Govt/MOF to prove their claim of safeguarding common man interest& welfare.
mdn.institute
1 day ago
DHFL is a number one cheater company of India, they are charging high rate of interest from borrower and not refund amount of investors
rupad111
5 days ago
What about the remaining amount????
narindergogna4
5 days ago
In this deal why fd holders were suppressed by giving only 23% of pur principal amount whereas ncd, corporate & other investors got 44% .we have invested our whole life earning in this co not just to make owners rich & we should be on road.
Nclt decision is buly decision because our money is in others hand. This is not justice to senior people . This pure understanding between new owners & coc members. We need our full money with interest. Govt should intervene & find way to give us money back.
solanki13hemant
5 days ago
Fixed deposite remaining amount wgen we will receive?
solanki13hemant
5 days ago
When we will receive our remaining amount?
solanki13hemant
Replied to solanki13hemant comment 5 days ago
Fixed deposite
manish.talreja23
5 days ago
Where we should appeal
redblueenterprises
5 days ago
Why such a raw deal to equity holders of DHFL, are they 2 nd grade citizens, why their value has been made zero. If government can intervene in ilfs & yes bank fraud, why not here
cbk1097
Replied to redblueenterprises comment 4 days ago
Equity share holders are called as residual claimants, hence they received nothing
Kamal Garg
Replied to cbk1097 comment 3 days ago
Not only that, equity capital is basically , financially and legally is a "risk capital" - it's "owner's" money and therefore it is liable for written off. We must be thank full to the legal structure created under the Indian Companies Act whereby the liability of equity holders is "limited" and that's why the word "limited" is written/inserted after the name of every company. Had this not been the case, we, the equity share holders would have had "unlimited" liability and may have been called upon to "compensate/fulfill" the losses incurred by the company and to meet the company's liability towards its lenders, suppliers, etc.
tapankumarsanyal
6 days ago
The AR of FD holders time to time in virtual conferences with the Depositors assured 100% refund of the FD amount but under who
tapankumarsanyal
Replied to tapankumarsanyal comment 5 days ago
The above text was incomplete due to mistake. Actually the COC of FD holders intentionally suppressed the fact and agreed the resolution process under certain pressure.The AR of COC may appear the NC ALT and pleads for the SR citizens so as to get the principal amt with accrued interest.
rajeshcst
6 days ago
We don't know the rule of NCLT,but thiss is pure cheating and injustice to small FD holders. All FD holders must unite to search out the any way to compensate this loss
cbsuvarna
6 days ago
Catalyst trusteeship has acted as a commission agent hand in hand with all the agencies & cheated the poor FD/NCD holders.
fernandezida
6 days ago
I had 2 FDs. One of 2 lac and and one of 4 lacs. But in all I received was 1.40 lacs.
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