The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms. Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable. According to sources, suitors have submitted bids in the range of Rs 35,000-37,000 crore.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
'All my life, I have made expensive films. This time, I want to make the least expensive film ever made in Bollywood.' 'It's an honest attempt to climb Mount Everest without knowing if I will reach the peak.'
Take a look at the inside pictures of the party.
A look at the pictures from the party.
The starry arrivals at Manish's bash.
The actor turns 47 today.
Amid the crisis has risen an outpouring of empathy from ordinary people across India led by the civil society, who have stepped up to help migrant labourers, domestic helps, construction workers, and small scale workers who were left jobless because of the nationwide lockdown.
Delhi police is now stepping up the probe and want to conduct polygraph test on three key witnesses
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
A Delhi court on Wednesday allowed the Delhi Police to conduct lie-detector test on three "suspects" in the Sunanda Pushkar murder case.
The central probe agency that began action against the banker by raiding his upscale residence in south Mumbai on Friday is primarily investigating Kapoor, his wife and three daughters over a Rs 600 crore fund received by a firm allegedly "controlled" by them from an entity linked to the scam-hit Dewan Housing Finance Limited.
Twenty-three of the 31 stocks in his publicly disclosed portfolio consist small-cap stocks. jhunjhunwala's portfolio rose 15.2% in Q3.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
Share prices of Dewan Housing, Indiabulls Housing, and PNB Housing have declined 30-80% in the past one year
Bollywood pays last respect to the matriarch of the Kapoor khandaan.
'Beyond the 'sir' and the 'salute', there was a man who cared about his soldiers and that's what made him a great leader.' Field Marshal Sam Manekshaw's grandson Jehan remembers the man who was the soldier's soldier.
Take a look at this very interesting names that stars came up with for their babies in the year gone by.
Here's what your favourite celebrities have been up to.
In a new letter issued on Monday, October 7, the eminent personalities questioned how writing an open letter to the prime minister could be called "an act of sedition".
Indian companies had raised $2.39 billion from foreign markets in May 2015.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
Justice Bharati Dangre granted them bail as the Enforcement Directorate failed to file its charge sheet in the case within the stipulated 60-day period.
Investigators probing the mysterious death of Sunanda Pushkar may move a local court in Delhi seeking lie detector test on her husband and Congress MP Shashi Tharoor.
Six persons including three "prime witnesses" in the Sunanda Pushkar death case were put through lie detector test, Delhi Police Commissioner B S Bassi said on Monday amid indication that a number of other witnesses may be asked to undergo the examination.
Take a look at the guests.
Here's looking back the Bollywood's judges over the years.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
This was stated by Parvez Dewan, Toursim Secretary, while inaugurating the SATTE 2013 (South Asian Tourism and Travel Expo in New Delhi.
A look at the arrivals.
Brace yourselves to shell out more for home loan instalments.
Rahul Dewan's pugnacious knock of 93 and an equally important innings of 65 by Joginder Sharma paved the way for Haryana's slender lead of 44 runs in their Group B Ranji Trophy match against Uttar Pradesh in Lucknow on Sunday.
A round-up of the opening day action of various Ranji Trophy group league matches on Saturday.
'We will be looking to prune our portfolio to make GIC Re a healthier entity.'
