There is a finance company, which used to provide loans, but the company had to take loans from other companies to maintain its business, which has now failed to pay its installments and the company is trapped in debt. As a result, Star Housing Finance CEO Kalpesh Dave has resigned. Debt-ridden Star Housing Finance said in an exchange filing that its executive director and CEO Kalpesh Dave's tenure has ended. Due to which the condition of the company's shares is bad. Share price below Rs.10 Rs. Below 7 has been spoken. According to a PTI report, Star Housing Finance informed two financial institutions, Hinduja Housing Finance and LIC Housing Finance, about the default in payment of term loan installments on April 7. Mumbai-based company Basinvictus Private Limited had expressed interest in buying a stake in Star Housing Finance in May after defaulting on loan installments. He asked to invest 200 crore rupees. Star HFL said in a regulatory filing that Basinvictus Pvt Ltd intends to acquire a majority stake through this investment. Also, after getting all the necessary approvals, it wants to buy the stake of the promoters and the largest investor ARCfin Investments & Advisors Limited through a secondary purchase. Star Housing Finance Limited, was established in 2005, i.e. the company is 21 years old. According to a report, Star Housing Finance Ltd has a total financial debt of Rs 410 crore, which includes short-term and long-term debt obligations.
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