Ministry Of Finance Govt. Of India — Dhfl scam and non payment of investment

Address:

1103 JESSORE ROAD, DUM DUM, KOLKATA-700028

DHFL DEBACLE

By virtue of the devastating pandemic onslaught in the country, the entire economic systems as well as social fabrics have been tumbled down and crippled.

Almost 100% of the FD investors in DHFL are Senior /very senior Citizens and small investors. This is the only 6.177% (Rs. 5, 374-00 crore) out of the total Creditors’ Dues of Rs. 87, 000-00 crore. This segment of investors is now being crushed to death in addition to COVID-19 attack as they do not have any source and scope of income for livelihood; except their hard-earned small savings.

SUBMISSION:
1. These fragile FD and small Investors in DHFL do not have ANY RISK CARRYING CAPABILITY in comparison to other Creditors.
2. All other creditors are PSU Banks and HNI Debenture Holders having more risk carrying capabilities unlike those poor small FD holders
3. Since the matter is in NCLT and being handled by RBI appointed administrator, erstwhile promoter and the prospective bidders, it is uncertain when the FD/small Investors are likely to get back their investment from the company.
4. Already FD/small Investors are hard hit by non-payment of agreed interest for almost last two years on their investment.

Madam,
for this small fragment of 6.177% creditors, please take a compassionate and humane approach to liquidate their total investment as was promised and ADMITTED by DHFL at the beginning of insolvency proceedings by means of “Form CA - SUBMISSION OF CLAIM BY FINANCIAL CREDTORS IN A CLASS (Under Regulation 8A of the Insolvency and Bankruptcy (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

RETURN OF 40% OF INVESTMENT IS NOTHING BUT GIVING ALMS TO THE BEGGERS LIKE SENIOR CITIZENS.

For this impoverished group of such hapless investors, the CoC Members may please drive out the matter to the legal and other associated agencies in a bid to salvage this small segment by any means with some special or extraordinary provision just to save some dying human beings. Since the Reserve Bank of India has initiated the bankruptcy proceedings, the Central Bank may please make some way out to refund the FD investors in full at the earliest pending the NCLT proceedings. This will help us repose confidence in our national democratic institutions and the governance.
PLEASE KEEP IN MIND THE HARDSHIP FACED BY THE ENTIRE COUNTRY AND THE GOVERNMENT DOLE TO THE PEOPLE IN DIFFERENT WAYS but THIS SMALL SEGMENT OF FD/SMALL INVESTORS HAVE NO HELP FROM ANY SOURCES AND MOSTLY ARE SR/VERY SENIOR CITIZENS. I AM 68 YEARS OLD.