HDFC sells ₹869 cr loan that Unitech defaulted to pay
With Unitech defaulting on loan repayment, housing finance firm HDFC on Friday said that it has sold the realty firm's outstanding loan of ₹869 crore to JM Financial Asset Reconstruction Company. HDFC attributed the loan default to the sluggish sale of Unitech's apartments. HDFC said these assets turned into non-performing ones only at the end of October 2016.