DHFL shares were locked in a 5 per cent upper circuit at Rs 27.50 on the BSE.
Shares of the Mumbai-based troubled shadow lender Dewan Housing Finance Corporation Limited (DHFL) were locked in a 5 per cent upper circuit at Rs 27.50 on the BSE after its committee of creditors (CoC) approved a resolution plan submitted by Ajay Piramal-led Piramal Capital and Housing Finance. Creditors of DHFL voted in favour of Rs 37,250 crore takeover bid submitted by the Piramal Group for the troubled shadow lender. (Track DHFL share price here)
DHFL, which was one of the country s top non-banking finance company in the past, accumulated total debts of almost Rs 1 lakh crore before defaulting on payments to its creditors.