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63Moons moves NCLT against Piramal ascribing ₹1 value to DHFL s recoverable assets

63Moons moves NCLT against Piramal ascribing ₹1 value to DHFL’s ‘recoverable’ assets April 25, 2021 × 63Moons Technologies has dragged Piramal Capital and Housing Finance to the National Company Law Tribunal (NCLT) for ascribing ‘₹1’ value to the assets or transactions of Dewan Housing Finance Corporation (DHFL) that, it says, have a recovery potential of more than ‘₹40,000 crore’. DHFL, one of India’s largest housing finance companies, is in the midst of insolvency proceedings and Piramal’s Request for Resolution Plan (RFRP) to acquire the company was approved by the committee of creditors (COC) this year. 63Moons, the erstwhile promoter of commodity bourse MCX, has accused Piramal of trying to illegally pocket the money that is likely to be recovered from the debtors of DHFL. 63Moons, which is an admitted financial creditor of DHFL, has also challenged before the NCLT the approvals given by the CoC and the Resolution Professional to Piramal. A hearin

Piramal Capital mobilises Rs 2,500 crore to integrate Dewan Housing acquisition

Piramal Capital mobilises Rs 2,500 crore to integrate Dewan Housing acquisition The company has also raised some rupee term loans from banks. With interest rates at rock bottom, the company has a good opportunity to mobilise 3-5 year money Anand Adhikari | April 22, 2021 | Updated 11:43 IST Piramal Capital mobilises Rs 2,500 crore Piramal Capital and Housing Finance Ltd (PCHFL), a subsidiary of Piramal Enterprises Limited, has mobilised close to Rs 2,500 crore funds from banks like State Bank of India, Union Bank, Indian Bank, and other corporate investors to integrate Dewan Housing acquisition and also to expand into retail assets. These funds have come via the non-convertible debenture (NCD) route as the banks are flush with liquidity. Most of the banks are using the NCD route to park short-term money for 1-3 years in high-rated companies. The company has also raised some rupee term loans from banks. With interest rates at rock bottom, the company has a good opportunity to m

Piramal Capital mobilises Rs 2,500 crore to integrate Dewan Housing acquisition

Piramal Capital mobilises Rs 2,500 crore to integrate Dewan Housing acquisition
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