DHFL win likely to sharpen Piramal’s retail focus
Surabhi
Mumbai |
Updated on
Challenges continue with pending cases; Oaktree may also file a legal plea
Emerging as the preferred bidder for Dewan Housing Finance Corporation Ltd (DHFL) is likely to help the Piramal Groups expand in the real estate and lending segment, particularly the retail space.
In a regulatory filing on Sunday, DHFL said the resolution plan submitted by Piramal Capital and Housing Finance Limited has been approved by the Committee of Creditors by majority voting.
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The merged entity is expected to focus mainly on the retail real estate and lending space.
FD holders vote against DHFL resolution plan proposals
Surabhi
Mumbai |
Updated on
× Continuing their demand for full repayment of their investments, fixed deposit holders of Dewan Housing Finance Corporation Ltd (DHFL) voted against all the proposals as part of the resolution process.
Voting on the proposals by the Committee of Creditors ended on January 15.
Public depositors, who have a 6.18 per cent share in the voting mechanism, voted against all the proposals.
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“We will continue to fight the case in the National Company Law Tribunal. We believe that voting against the proposals will strengthen our case,” said Vinay Kumar Mittal, a lead petitioner in the court on behalf of FD holders of DHFL.
Piramal wins race to acquire DHFL
January 15, 2021
File Photo of Ajay Piramal, Chairman, Piramal Group. - BusinessLine×
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Debt resolution proposal got 94% of lenders’ votes
After multiple rounds of bidding and counter bids, Piramal Capital and Housing Finance Ltd has won the race to acquire Dewan Housing Finance Corporation Ltd. The voting by the Committee of Creditors ended today.
The debt resolution proposal submitted by Piramal received 94 per cent of the lenders’ votes, according to banking industry sources. The proposal submitted by Oaktree Capital is understood to have secured around 45 per cent of the votes. The official numbers will be disclosed by the DHFL administrator over the weekend.
Piramal Group has won the bid to take over Dewan Housing Finance Corporation Ltd (DHFL), sources said.Piramal received 94 per cent of the votes from the Committee of Creditors (CoC), said people in the know. The minium requirement for winning a .