DHFL hits the roof after CoC approves Piramals resolution plan

18 Janvier, 2021, 13:22 | Auteur: Auguste Feret
  • DHFL resolution Lenders back Piramal's bid

And that is why the sum of the votes exceeds 100 per cent, sources said.

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.

Piramal Enterprises has emerged as the preferred bidder for DHFL by garnering around 94 percent votes from the Committee of Creditors (CoC), according to sources aware of the outcome. However, it had offered a higher upfront cash payment that may have appealed the CoC members.

Once one of India's top "shadow" lenders, DHFL accumulated total debts of nearly 1 trillion rupees before defaulting on payments to its creditors.

Against this, Oaktree offered Rs 38,400 crores, including a Rs 1700 crore addition in the bid. Of these, ₹50,227 crore or 63 per cent of the total portfolio was reported as gross NPAs.

Özil en passe de résilier — Arsenal
N'entrant pas dans les plans de Mikel Arteta , le champion du monde 2014 se dirige vers un départ durant ce mercato d'hiver.

Social Media Activist ‘Baked Alaska’ Arrested By FBI For Capitol Building Incursion
The Trump supporters talked among themselves, laughed, and told the officers and each other, "This is only the beginning". So far, they have brought almost 100 cases in federal court and the District of Columbia Superior Court.

The real reason Ben Affleck played Batman
I drank, like, alone in my living room and just passed out, like, with scotch. "But I got sober", Ben concluded. Ben Affleck will return as Batman in the upcoming The Flash movie, starring Ezra Miller.

Piramal said it formally submitted a final bid within the deadline, while Oaktree sent an additional offer after the deadline, offering Rs 1,700 crore more. Oaktree, in a letter to the creditors, had claimed a Rs 2,700-crore undervaluation by the CoC.

DHFL was the first finance company to be referred to NCLT by the RBI using special powers under Section 227 of the IBC. The entire resolution process has been mired in controversy, with unsolicited offers, bickering between suitors, conflict of interest issues with legal advisors to the firm, and the promoter facing allegations of fraud.

As of July 2019, the company owed Rs 83,873 crore to banks, the National Housing Board, mutual funds and bondholders.

The outcome was a "marginal positive" for banks that have exposure to DHFL, including state-run Bank of India, Canara Bank and Union Bank of India and private-sector lenders such as Yes Bank, Jefferies added.

Conseillé:



Populaire

Sophie Wilmès: "Alexei Navalny doit être libéré"
La porte-parole de la diplomatie russe Maria Zakharova leur a rétorqué via Facebook de "se mêler de leurs propres problèmes". D'abord hospitalisé à Omsk, il avait finalement été évacué vers un hôpital berlinois sous la pression de ses proches.

Golden Knights name Stone 1st captain in franchise history
The Winnipeg native has played in the National Hockey League for 9 seasons and kicking off his 10th season this year. It's about coming through when the team needs a play, and Stone did exactly that on Thursday.

Biden to issue executive orders to reverse Trump policie
Another Indian-American, Bharat Rammurthy, has been appointed deputy director of the White House National Economic Council. Uzra Zeya: She has been nominated under Secretary of State for Civilian Security, Democracy, and Human Rights.

Winning numbers drawn for Powerball, no victor of Mega Millions
That means the Powerball drawing on Wednesday, Jan. 20 will be worth $730 million with a cash option of $546 million. No one beat the odds in Friday's Mega Millions drawing , so that jackpot grew to an estimated $850 million.

Macaulay Culkin soutient la suppression de Trump de `` Home Alone 2 ''
En effet, suite aux évènements récents qui ont secoué les Etats-Unis, la côte de popularité de Trump dégringole à grande vitesse. Une fois encore, Macaulay Culkin a semblé apprécier le geste et a félicité l'initiative avec un " Bravo ".

Mega Millions grows to $850M after no winners Friday
If anyone had matched the numbers, they would have won $750 million - the fourth-largest lottery payout in USA history. The winning numbers pulled on Wednesday, Jan. 13, were 4, 19, 23, 25, 49, with a red Powerball of 14.

Emirates stops flights to major Australian cities
It also tightened restrictions on flight crews and quarantine workers while making masks mandatory on all flights and in airports. The move follows the Australian Government's decision to halve the already very limited number of global arrivals it will accept.

Pakistan in major shake-up for South Africa series
He said importance will be given to those who had performed well in the just concluded Quaid-e-Azam Trophy first class tournament. The players will enter their bio-secure bubble on Tuesday and the squad will be trimmed to 16 players before the opening Test.

États-Unis: décès du producteur de rock Phil Spector
Phil Spector affirmera que la quadragénaire s'était tiré elle-même une balle dans la bouche, une version taillée en pièces par l'accusation.

Coronavirus can only be defeated with global solidarity: Guterres
This would help vaccinate all health care workers around the world on an urgent basis and protect health systems from collapse, he said.