DHFL resolution: Company receives no objection from RBI, files application with NCLT
In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.
DHFL case: Auditor Grant Thornton unearths another fraudulent transaction of Rs 6,182 cr
The administrator of the company received an initial...
Piramal receives RBI nod for DHFL takeover, NCLT approval next
This approval suggested that the successful bidder of the company qualified fo...
DHFL posts consolidated net loss of Rs 13,095 cr in Q3
Sequentially, the company witnessed widening of net loss from Rs 2,122.65 crore in the second quarter ended September 2020.
Adar Poonawalla to own Magma FinCorp via equity infusion
The preferential allotment is for an aggregate value of Rs. 3,456 crores, subject to shareholders’ and other regulatory approvals, the company said.
‘DHFL takeover to be structurally positive for Piramal Enterprises’
DHFL’s creditors chose Piramal Capital and Housing Finance over US-based asset manager Oaktree Capital Management and the Adani Group in the administration-monitored takeover.
DHFL resolution: Lenders approve Piramal's bid
The "resolution plan submitted by Piramal Capital and Housing Finance Limited was duly approved by CoC by majority voting under section 30(4) of the Insolvency & Bankruptcy Code....as the successful resolution plan," it said.
Ajay Piramal wins the most contested bankruptcy bid for Dewan Housing Finance Ltd
Piramal’s bid received about 94 percent of votes of the creditors, followed by Oaktree at 45 percent, sources told ET. Adani Capital obtained about 18 percent, people said people familiar with the voting pattern. Lenders/investors have the option to vote for multiple bids.
DHFL D-Day: Ajay Piramal wins race to acquire Dewan Housing Finance Ltd
Billionaire Ajay Piramal won the most contested bankruptcy bid for De...
Piramal Group claims its bid for DHFL highest and compliant with norms
Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable.
Oaktree provides unconditional, implementable plan for DHFL resolution
"During our discussion with the legal counsel of the Administrator and the CoC, we were informed that we could not impose any conditions to the implementation of our resolution plan in any manner. As a result, all terms of our resolution plan that could be considered as conditions were deleted," it said.
DHFL lenders want Piramal to delink merger clause from its bid
“What if a merger is delayed? To avoid uncertainty, the bid should not be connected to the proposed merger. This was raised at the CoC (committee of creditors) meeting in the last week of December. This will be discussed post voting,” a person aware of the development told ET.
DHFL lenders to elect new owner by Jan 15
After two days of marathon meetings that ended on Friday evening, the lenders decided to put the proposals up for voting.
Creditors to discuss DHFL bids today
Voting is set to take place next week and the lenders are closeted in hectic discussions with lawyers on the voting process, seeking to avoid last-minute hiccups.
DHFL lenders are planning fresh bids with revised terms
Even though the four bidders – Oaktree Capital, Adani Properties, Piramal Enterprises and SC Lowy — are yet to receive any official communication from the administrator appointed by the Reserve Bank of India (RBI), sources close to them said this had been conveyed informally by a section of lenders.