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Mumbai: Global alternative asset investor Oaktree Capital’s bid for Dewan Housing Finance Corp. Ltd (DHFL), which is undergoing bankruptcy resolution, is being examined by India’s financial sector regulators, said people with knowledge of the matter. The Piramal Group and Oaktree are the two leading bidders for
Oaktree said it hasn’t received any communication from the regulators.
The Insurance Regulatory and Development Authority of India (Irda) is examining whether there’s a breach of the 49% cap on foreign direct investment in domestic insurance firms through misuse of the alternative investment fund (AIF) structure. An Irda official said the regulator had received a complaint on the matter, without elaborating.