More than 100,000 fixed deposit holders of Dewan Housing Finance Corp. Ltd (DHFL) risk losing their savings as allegations of fraud and fund diversion grip the mortgage lender.
DHFL's fixed deposit holders, who do not have recourse to the debt resolution tribunals like bondholders who are better organized, are among the worst affected. To be sure, a depositor can still file a civil suit for recovery of the deposit. He can also send a complaint to the consumer forums set up under the Consumer Protection Act, 1986.
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