Dhfl

According to the petitioner, DHFL investors may have lost in excess of ₹40,000 crore while those who were required to vet and look into the functioning of DHFL were lacking in their functioning, a Madras High Court bench said

DHFL shares would be delisted post acquisition as per the IBC guidelines and Sebi delisting normsPiramal may merge itself with DHFL for which call would be taken after all legal and regulatory clearances are obtained

Total revenue from operations for the March quarter last fiscal slipped down to ₹2,034.53 croreFor the full fiscal ended March 31, 2021, DHFL reported a consolidated net loss of ₹15,051.17 crore

Sources say the US-based Oaktree and Hong Kong-based SC Lowy submitted bids for DHFL on 17 Oct, the last date to submit final bids

The gap in portfolio was managed by fictitious disbursement, subsequent withdrawals and deposited as fictitious collections under the direction of the chief executive

The company said the current NCLT application pertains to irregularities in loan disbursements towards development of Slum Rehabilitation Authority (SRA) projects undertaken by the company

Sebi says violations by the 12 entities are very grave in nature, and the amount involved in the fraudulent transactions is of a very high magnitude

Last month, India’s second-largest public sector lender Punjab National Bank (PNB) had declared its ₹3,688.58 crore exposure to the mortgage lender as fraud

The Wadhawan brothers were taken into custody on 14 May to aide the investigative agency in its probe of ₹5,050 crore worth of funds that were allegedly laundered

A big unknown for investors is the fallout of the merger with Oriental Bank of Commerce and United Bank of India on PNB’s capital. FY20 metrics did not include the two lenders’ performance as the merger took effect on 1 April