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
vinoddaswani62
2 weeks ago
As 70000 FD holder and creditor can directly put PIL in honourable supreme court for justice and review DHFL case then only we will get the atleast our principal amount
vinoddaswani62
2 weeks ago
As 70000 FD holder and creditor can directly put PIL in honourable supreme court for justice and review DHFL case then only we will get the atleast our principal amount
krishan2k5
2 weeks ago
Will approaching PM through PM Portal have desired results?
vinoddaswani62
2 weeks ago
I have seen a movie police public in that actor A.k Hangal sent request to supreme court for his case and supreme court take that case as public interest litigation (PIL)as he isn't getting justice he approach Honourblesupreme court for justice as all FD holder are are scattered in country they can not come together again st DHFL case I hereby request all the DHFL (FD) and creditor , take suggestion from lawyer's and a s per law all the FD holder and creditor can twit the honorable supreme court to review the DHFL case so that all the FD holder at least get back principal amount.
krishan2k5
3 weeks ago
Is there a system or mechanism through which we can approach the Courts to review the case?
sujann68
3 weeks ago
Piramal acquired DHFL for much lower price, Muck started there,all players including Catalyst kept their full payments, retail crowd lost their capital as always, this is how our"democracy" works ????
Kamal Garg
Replied to sujann68 comment 3 weeks ago
Correct.
vishalshah_9999
4 weeks ago
ILFS on track for 62% recovery, says Uday Kotak

Can we expect same recovery at DHFL

https://www.google.com/amp/s/m.economictimes.com/industry/banking/finance/ilfs-on-track-for-62-recovery-says-uday-kotak/amp_articleshow/87492347.cms
anantaprasad.1728
4 weeks ago
DHFL settlement for parent to FD holders who are mostly individuals has not been properly dealt with.The individuals who are mostly retired should not be treated at par with companies.NCLT and CoC should give a fresh look and impart justice.
garani.vittal
1 month ago
In Short Equity Holders have lowest rights they are the last in the IBC process. Hence they lose whole money DHFL depositors only got 23% and NCD holders who are secured and less than 2lakhs got principal the rest you can see in the above table 43.82% between 2-10lakhs. Everybody lost faith in the NBC companies and now the latest which is going for insolvency is SREI luckily there are no depositors and only NCD retail holders are there in SREI
bmitra51
1 month ago
Requesting Central Government to look in to the DHFL settlement with the Investor,so that they can get relief.
kanakdas32
1 month 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 month 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.
lsundar61
Replied to tapankumarsanyal comment 4 weeks ago
Absolutely. To top it DHFL ,at the time of investment carried an AAA+ rating. All are bogus. No more investment into any private companies. Because of these frauds like DHFL, other companies will suffer. But we must know that public is greedy.
Thank god ,I got back my money from India bulls. The other black sheep is the Anil Ambani's Reliance.
rajendrakakhandki
1 month 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 month 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
2 months ago
What about the remaining amount????
DHFL FD Investors and NCD-holders Start Getting Their Repayment Proceeds as per Their Claims
Moneylife Digital Team 30 September 2021
In a huge relief for fixed deposit (FD) investors and non-convertible debenture (NCD)-holders of Dewan Housing Finance Corporation Ltd (DHFL), the repayment process has already started.
 
While many people have expressed...
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