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Wednesday, March 03, 2021

RBI clears Piramal takeover of DHFL

Lenders had cleared the Piramal’s Rs 37,250-crore bid for the takeover of the mortgage firm in January first week.

By: ENS Economic Bureau | New Delhi |
February 19, 2021 3:05:09 am
The Piramal group is likely to merge DHFL with its financial services business once the bankruptcy court, the National Company Law Tribunal, clears the transaction.

The acquisition of Dewan Housing Finance Corporation (DHFL) by Piramal Capital and Housing Finance has crossed a major hurdle with the Reserve Bank of India clearing the proposal in favour of Piramal sent by the lenders led by public sector banks.

Lenders had cleared the Piramal’s Rs 37,250-crore bid for the takeover of the mortgage firm in January first week. The Piramal group is likely to merge DHFL with its financial services business once the bankruptcy court, the National Company Law Tribunal, clears the transaction.

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