Bankers expect resolution to DHFL issue by December-end

Bankers expect the resolution of debt-ridden mortgage lender DHFL to be finalised by the end of next month, according to a banker who is part of the lenders' consortium. The Inter-creditor Agreement (ICA) is in place for resolution of the account and banks are looking at it, the banker said. Resolution would be reached by December 31, the banker expressed hope, amid an SFIO probe of alleged financial irregularities by DHFL. Asked if the NCLT route could be taken for resolution, the banker said that all aspects are being examined, and it is premature to comment at the moment. According to the Reserve Bank’s June 7 NPA resolution framework, for a resolution plan to be passed, 75 per cent of lenders by value and 60 per cent by numbers must approve it and sign the ICA. The banker also said mutual funds as a category of debtors were still not on the same page.