DHFL denies having link to HDIL, PMC Bank

Dewan Housing Finance Corporation (DHFL) on Tuesday refuted rumours of having exposure to Housing Development and Infrastructure (HDIL) or Punjab & Maharashtra Co-operative Bank (PMC Bank).

“DHFL does not have any exposure to either of the entities,” the NBFC said in a release.

DHFL said that its promoter family had separated from HDIL promoters in 2008 and the separation was done formally by a family-separation agreement in April 2010. The promoters of DHFL & HDIL and HDIL ceased to be promoters of each other's companies, it added.


Stocks of DHFL crashed 20 per cent on BSE on Tuesday. The company has been battling liquidity crunch and had defaulted on a number of debt repayments.

The company is in discussions with various stakeholders for finalisation of its debt resolution plan.