63 Moons seeks support from DHFL’s retail investors for additional recovery

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63 Moons seeks support from DHFL’s retail investors for additional recovery


63 Moons Technologies, an investor with about Rs 200 crore exposure, has sought support from other bond and fixed deposit holders of Dewan Housing Finance Corp (DHFL) as it has already filed an application in NCLT, Mumbai aiming to recover additional money.

The petition has sought that the fraudulent transaction recovery benefit, which is a siphoned off money of approximately Rs. 30,000 crores filed by DHFL administrator…should come to creditors, the company said in a release on Friday.

“The promoters of DHFL have siphoned approximately Rs 30,000 crore, which has been traced by the Grant Thornton forensic audit report itself,” it said citing loan/investment losses of about Rs 50,000 crore.

63 moons technologies subscribed to DHFL’s non-convertible debentures. Its latest claim is excluding the ongoing resolution process for which Piramal, Oaktree and Adani bid to own the home financier. The resolution entered into the last lap as it is now up for voting among lenders/creditors.

It appears that the valuation of DHFL does not appear to have been done keeping present assets and future recoveries in mind like in the regular course for NBFCs. Further, it is not as if the recoveries from the promoters are uncertain, it said.





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