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Dewan Housing Finance Corporation Limited defaulted on repayment of its financial obligations in June 2019, and in December 2019, shortly after the Reserve Bank of India superseded its board, it was subjected to the Corporate Insolvency Resolution Process of India's Insolvency and Bankruptcy Code. Because it was the first financial services provider to be subjected to the resolution process, the lenders - known as the committee of creditors - of the troubled company had to select the most appropriate resolution plan among the multiple bids they received. The poor financial position and high level of risk owing to exposure to the wholesales/corporate sector made the lenders' prospects of recovery bleak and rendered the company less valuable for any prospective takeover or merger. The resolution of the first financial services provider subjected to the resolution process provided a test case for how a committee of creditors could deal with complex issues and still salvage the interests of the different stakeholders, including the secured and unsecured lenders and retail deposit holders.