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Business News/ Companies / News/  Piramal Group secures RBI nod for DHFL takeover: Report
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Piramal Group secures RBI nod for DHFL takeover: Report

The central bank's nod has cleared the way for Piramal Group's takeover of DHFL pending NCLT approval.

DHFL’s shares have doubled in the past three months. MINTPremium
DHFL’s shares have doubled in the past three months. MINT

Piramal Group has secured the critical Reserve Bank of India (RBI) nod for Dewan Housing Finance Corporation(DHFL) takeover, reported Reuters on Thursday.

The central bank's nod has cleared the way for Piramal Group's takeover of DHFL pending NCLT approval.

"The Reserve Bank of India (RBI) has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the committee of creditors," Reuters quote Piramal Group as saying.

Piramal Group's bid for DHFL was approved by CoC on 15 January with 94% votes in favour. Oaktree, an American asset management company, secured around 45% votes, while another bidder, Adani Capital, is believed to have got 18% votes.

DHFL is facing claims of over 87,000 crore including 38,000 crore of bank loans.

Piramal intends to delist DHFL and merge it into its subsidiary Piramal Capital and Housing Finance (PCHFL) as per approved plan.

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Published: 18 Feb 2021, 01:28 PM IST
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