Lenders to DHFL are expected to discuss the matter on November 25.
DHFL and Altico Capital could become the first set of non-banking finance companies (NBFCs) to be sent to the bankruptcy court, sources told the publication.
DHFL lenders are expected to discuss the matter on November 25, the report said.
“While DHFL is almost certain to be referred to NCLT (National Company Law Tribunal), there is still some ambiguity over Altico," a source told Mint.
Moneycontrol could not independently verify the story.
The RBI can move resolution of financiers with assets of at least Rs 500 crore under an amendment to bankruptcy norms. The corporate affairs ministry announced the changes to the Insolvency and Bankruptcy Code (IBC) on November 18.
State Bank of India (SBI), which has exposure to both financiers, has appointed Cyril Amarchand Mangaldas as its legal adviser for the resolution process, the report added.
SBI has an exposure of Rs 10,000 crore to DHFL, chairman Rajnish Kumar had said recently.
RBI, SBI, DHFL, Cyril Amarchand Mangaldas and Altico have not yet responded to Mint’s requests for comment.DHFL had in September proposed a resolution plan where lenders would be given a 51 percent stake in the company after converting debt to equity.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.