Sasakawa-India Leprosy Foundation that has its money stuck in the fixed deposit schemes of DHFL have filed a case in the Delhi High Court. The foundation has more than ₹10 crore, which is now stuck with DHFL and as per the proposed resolution plan, it would get back only 25 percent of its investments.
The Reserve Bank of India (RBI) superseded the board of the mortgage lender in 2019, following concerns over governance, and initiated resolution under the bankruptcy laws. DHFL now owes around ₹85,000 crore in debt. In that it has about 77,000 retail fixed deposit holders, apart from 3,500 institutional fixed depositors.
According to the resolution plan, FD holders of up to ₹2 lakh will get their entire money back. But of those above ₹2 lakh, only 25 per cent of the money due will be paid.
The Leprosy Foundation, which serves leprosy patients to support their livelihood, has lost money in the DHFL debt fiasco. It has now made the Reserve Bank of India, National Housing Bank its representatives and Indian government as parties to the affidavit, which is listed in the court for hearing on February 1, Monday.
The trustees of the foundation include S. Mahalingam, former Chief Financial Officer & Executive Director, Tata Consultancy Services. Derek Lobo, Consultant, Department of Public Health at NITTE University, Mangalore. Tatsuya Tanami, Special Adviser, The Nippon Foundation and Managing Director, Center for Human Rights Education and Training.
Takahiro Nanri, Executive Director of Sasakawa Memorial Health Foundation, Japan. Rathi Vinay Jha, Former member of Indian Administrative Service, Chairperson, Plan India. Syeda Imam Bilgrami, a consultant in areas of education, social welfare, communal harmony and Tarun Das, Former Director General, Confederation of Indian Industry.
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