New Delhi, Aug. 14 -- The Employees' Provident Fund Organisation (EPFO) will seek early redemption of about Rs700 crore worth of bonds of troubled mortgage lender Dewan Housing Finance Corp. Ltd (DHFL) to safeguard workers' savings.
The retirement fund manager will exercise an early exit option to redeem investments in 10-year bonds of DHFL that mature in 2024, said Prabhakar Banasure, a member of the finance investment committee of EPFO.
"Of the total Rs1,300 crore bond investments (in DHFL), we are yet to recover Rs700 crore. Though the company has promised to pay back the investments, it is tough to give a timeline right now," said Banasure.
Since mid-june, the investment committee of the retirement fund manager has met four times to ...