Billionaire Ajay Piramal's Conglomerate Wins Bid For Bankrupt Shadow Lender DHFC
News

Billionaire Ajay Piramal's Conglomerate Wins Bid For Bankrupt Shadow Lender DHFC

Newsdesk |
January 18, 2021

Billionaire Ajay Piramal's conglomerate won bidding for bankrupt Indian shadow lender Dewan Housing Finance Corporation, advancing a keenly watched insolvency that's been a test of the country's bankruptcy system.


New Delhi, 18 January 2021

As per news report of NDTV, a resolution plan for Dewan from Piramal Enterprises' own shadow bank, Piramal Capital & Housing Finance was approved by Dewan's committee of creditors in a vote on Friday, according to a statement Sunday. People familiar with the matter had said Friday that Piramal received almost 94 per cent of the votes, while rival Oaktree Capital got less than half.

Source -NDTV


Read More >>


If you like the story and if you wish more such stories, support our effort Make a donation.




Loading...

If you believe investigative journalism is essential to making democracy functional and accountable support us. »