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ED arrests MD of Mumbai-based agro firm in Rs 915 cr money laundering case
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CBI court refuses to discharge DHFL in Yes Bank case
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NCLAT refuses interim stay on Piramal s resolution plan for bankrupt DHFL
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BCCL
From left, Ajay Piramal, chairman, Piramal Group; Rajesh Laddha, executive director & group chief financial officer, Piramal Enterprises Ltd.; Khushru Jijina, managing director, Piramal Capital & Housing Finance Limited; Jairam Sridharan, CEO, Piramal Retail Finance
Synopsis
Piramal Group’s DHFL acquisition is a combination of Ajay Piramal’s aspiration to build a decent-scale financial-services business and the management’s perseverance through the bidding war. Analysts say there is adequate upside potential in the deal. But, like always, there are an equal number of challenges. The street will closely watch this two-time bank-licence aspirant get his act together.
It was in 2018 when the unthinkable hit India’s financial-services sector. The mighty Infrastructure Leasing and Financial Services (IL&FS) collapsed, and with it, the entire non-banking financial services space crumbled. While the first to fall was Dewan Housing Finance Corporation Limited or DHFL, I