DHFL heads for insolvency

The Reserve Bank on Friday filed an application for initiation of corporate insolvency resolution process (with the NCLT Mumbai) against DHFL under Section 227 of the insolvency and bankruptcy code (IBC)," the RBI said.According to the notification issued by the Centre, an interim moratorium will commence from the date of filing of the application till its admission or rejection. Further, the licence or registration which authorises the financial service provider to engage in this business will not be suspended or cancelled during the interim-moratorium and the corporate insolvency resolution process.The resolution plan should include a statement explaining how the applicant intends to satisfy the requirements of being a financial service provider.The DHFL counter closed with 4.28 per cent gains at Rs 20.70 on the BSE on Friday. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttp://ctendodontists.org/UserProfile/tabid/84/userId/845849/Default.aspx

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