NCLT Asks Creditors of DHFL to Consider Offer by Kapil Wadhawan
Moneylife Digital Team
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In a twist to the mess at Dewan Housing Finance Corporation Ltd (DHFL), the Mumbai bench of National Company Law Tribunal (NCLT) on Wednesday asked the committee of creditors (CoC) or lenders to consider offer made by DHFL s promoter Kapil Wadhawan, who is in jail.
The NCLT asked the CoC to convene within 10 days a meeting to consider the offer from Mr Wadhawan, and inform the bench its decision by 31st May, say media reports.
The NCLT pronounced a verbal order earlier on Wednesday, and the written copy is yet to be published. The NCLT order comes even as the same tribunal is hearing another matter involving a fraud claim against the same promoters of DHFL, filed by the Reserve Bank of India (RBI)-appointed administrator of the company, says a report from CNBCTV18 (https://www.cnbctv18.com/business/nclt-mumbai-asks-dhfl-creditors-committee-to-consider-wadhawans-offer-9353321.htm
NCLT asks DHFL lenders to consider Kapil Wadhwan s offer origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.
May 13, 2021
However, the company made profit of ₹1,412.86 crore for FY2020-21
Piramal Enterprises Ltd (PEL) reported a consolidated net loss of ₹510.39 crore for the fourth quarter of 2020-21 as against a net loss of ₹1,702.59 crore in the same period a year ago.
However, for the full fiscal 2020-21, PEL reported a consolidated net profit of ₹1,412.86 crore as against ₹21.14 crore a year ago.
Its revenue from operations for the quarter ended March 31, rose marginally by 1.8 per cent to ₹3,401.56 crore from ₹3,341 crore a year ago.
Total income fell to ₹3,565.98 crore in the fourth quarter last fiscal versus ₹3,580.55 crore a year ago.
Ajay Piramal, Chairman, PEL said, “PEL has delivered steady performance with revenues of ₹12,809 crore and net profit of ₹1,413 crore for 2020-21, reflecting strong resilience during a phase of prolonged macro-economic challenges.”
Piramal Retail Finance enters consumer & used car finance
April 15, 2021
Eyes ₹3,000 crore of new loan book originations
With a focus on retail lending, Piramal Retail Finance on Thursday announced its foray into consumer and used car finance, even as it expects the retail share of the lending book of the Piramal Group to increase to over 40 per cent with the merger of Dewan Housing Finance Corporation Ltd (DHFL) with Piramal Capital and Housing Finance Ltd.
“The overall lending book is at about ₹45,000 crore, of which ₹5,000 crore or 11 per cent of the total lending book is from retail. DHFL book has got a substantial retail portion as well. By end of the fiscal year, retail share of the financial services business is likely to grow to mid-40s,” said Jairam Sridharan, Chief Executive Officer, Piramal Retail Finance.
Financials shares fall business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.