DHFL is no IL&FS yet, but it isn`t far from getting there unless a Santa shows up with bag full of good money
(WorldNews Business)

One of the largest non-banking finance companies (NBFCs) housing finance firm in India, Dewan Housing Finance Ltd (DHFL), has just announced that it will not accept any fresh deposits or renew the existing ones. Also, premature withdrawals have been put on hold except in cases where there is a proven medical or financial emergency. The statement has triggered panic with DHFL shares tumbling in early trade on the BSE touching an intra-day low of Rs 107.15 apiece. The shares are trading around 16 percent down at the time of writing this. `There is indeed a liquidity problem with DHFL. We have stopped looking at it a while ago and advised our clients to stay away,` said a Mumbai-based...