78-year-old DHFL fixed depositor dies after family informs that FDs will not be available for a while

On 10 November, a 78-year-old woman who had 15 fixed deposits with crisis hit Dewan Housing Finance Corp. Ltd (DHFL) died, after son informed her that some of her FDs will not be available for a while.

According to Live Mint, Speaking over the phone from Bhilai, Mridul Kumar Biswas said his 78-year-old mother held 15 fixed deposits totalling Rs 38 lakh in DHFL. While two had matured in November, the rest will mature in the coming years. Biswas, an employee at Bhilai Steel Plant, said his mother died hours after he informed her that some of her FDs, although matured, will not be available for a while.

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“I spoke to the sales manager here and told her in the afternoon about the fate of her deposits. Soon after I said that, my mother complained of chest pain and breathlessness, and we rushed her to a hospital but she died on the way, at 4:40pm," Mridul Kumar Biswas told Live Mint. He further added that his mother wanted to split the money between her six children, four daughters and two sons.He added that although his mother was diabetic, she did not have any other pre-existing illness.

The Bombay high court on 10 October barred DHFL from making any payment to unsecured creditors, which includes deposit holders. A modified order on 13 November that allowed DHFL to make payments in lieu of securitization deals did not bring any relief for the FD holders.