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Welcome To IANS Live - BUSINESS - Pramerica Life Insurance appoints Kalpana Sampat as MD
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India s Top Student Volunteers Felicitated At The 11th Annual Pramerica Spirit of Community Awards
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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.
US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion of Rs 1,000 crore for the revival of the company. According to sources, Oaktree in a letter dated January 6 to members of the Committee of Creditors (CoC) and administrator of DHFL said the resolution plan offers a clean structure for all stakeholders. During our discussion with the legal counsel of the Administrator and the CoC, we were informed that we could not impose any conditions to the implementation of our resolution plan in any manner. As a result, all terms of our resolution plan that could be considered as conditions were deleted, it said.
Enam May Exit Deal With Oaktree To Acquire DHFL s Insurance Business
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