The Delhi government may wind up its lending agency DFC in view of its “financial sickness and mounting losses”, officials said on Saturday.
The Delhi Financial Corporation (DFC), which provides loans to medium, small and micro projects, has been facing “financial constraints” for long, they said.
The corporation used to extend financial assistance to restaurants, hotels, amusement parks, other tourism-related activities, construction of commercial complexes, multiplexes, hospitals, nursing homes, clinics, diagnostic centres and commercial vehicles among others.
Its board of directors, in a meeting in November last year, held detailed deliberations, taking a serious note of the “acute financial constraints” currently faced by the corporation. It was apprised to the board that the share capital has already been eroded and the losses have accumulated to Rs 42 crore.
The corporation was also not in a position to repay the total outstanding loan of Rs 80 crore it owed to the Delhi …The Delhi government may wind up its lending agency DFC in view of its “financial sickness and mounting losses”, officials said on Saturday.
The Delhi Financial Corporation (DFC), which provides loans to medium, small and micro projects, has been facing “financial constraints” for long, they said.
The corporation used to extend financial assistance to restaurants, hotels, amusement parks, other tourism-related activities, construction of commercial complexes, multiplexes, hospitals, nursing homes, clinics, diagnostic centres and commercial vehicles among others.
Its board of directors, in a meeting in November last year, held detailed deliberations, taking a serious note of the “acute financial constraints” currently faced by the corporation. It was apprised to the board that the share capital has already been eroded and the losses have accumulated to Rs 42 crore.
The corporation was also not in a position to repay the total outstanding loan of Rs 80 crore it owed to the Delhi … Latest News [ SOBAN NEWS: International and National ]