Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
Stars glitter at SRK's Diwali party!
The Delhi high court on Tuesday said that in case there were no guidelines issued by the Centre, it expected the city government to expeditiously consider the issue of early re-testing of international travellers who test positive for COVID-19 on arrival.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Bollywood mourned designer Vikram Phadnis's mother's passing.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
'The emotions I saw in the eyes of the survivors when we pulled them out of the sea into our helicopter will remain with me for the rest of my life.'
Sanjay Khan's autobiography The Best Mistakes Of My Life out.
63 Moons Technologies that has a claim of Rs 200 crore from Dewan Housing Finance, which is being taken over by the Piramal Group for as low as Rs 37,500 crore against a total claim of close to Rs 85,000 crore, on Tuesday said it will challenge the resolution at the NCLAT shortly. On Tuesday, making an about-turn, the Mumbai bench of the National Company Law Tribunal (NCLT) chaired by HP Chaturvedi and Ravikumar Duraisamy, allowed Piramal Group to take over DHFL under the bankruptcy code for as low as Rs 37,500 crore against a claim of close to Rs 85,000 crore. It had on May 25 asked the committee of creditors to consider the Wadhawans offer of paying back almost Rs 93,000 crore to the lenders and creditors, which was stayed by the NCLAT after the Pirmal group challenged it.
Triple celebrations for Duggu!
The Bachchans bumped into Aishwarya's former boyfriend Salman Khan at Sunny and Anu Dewan's party.
Sanjay Dewan, a family friend of Shashi Tharoor and his wife Sunanda Pushkar and a key witness in her mysterious death case, on Wednesday said they were a "happy couple" and he was not aware whether she was suffering from any ailment.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
Anil Kapoor throws a party, and the ladies are invited!
Zayed hosted a dinner for newlyweds Gautam and Smriti Gupta.
'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.'
Young brides would be swooning over her cocktail gown with sexy cutouts!
Rahul Dewan struck an impressive unbeaten 143 but England managed to budle Haryana out for 333 to extended their lead to 306 runs in Ahmdedabad on Saturday.
Several promoters of suspended companies have floated new entities or taken board seats in other listed companies, which are functional, trading
This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.
Stars just love the Yuletide season...
Notwithstanding the challenges posed by the pandemic, the deal street remained buoyant pushing the overall deal value to a three-year high of $90.4 billion during the first nine months of 2021, a 35.1 per cent increase in value over the same period last year, according to an industry report. During the third quarter ending September, total deals grew by a tepid 3.8 per cent, according to the leading provider of financial markets data and infrastructure globally Refinitiv, an LSEG Business. The report also noted that IPOs alone grabbed as much as $9.1 billion of the deal value during the year.
Analysts say that PMC Bank case is only going to make matters worse for HDIL and the Wadhawans.
What did Bollywood do on Wednesday?
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
The attached assets include 15 commercial and residential properties belonging to the 'family members' of Mirchi. They include a hotel called Midwest Hotel Apartment, the ED said. They are valued at Rs 203.27 crore and have been provisionally attached under the Prevention of Money Laundering Act (PMLA), the central probe agency said in a statement.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Stepping into a new arena, the former all-rounder is attempting something 'exciting' for Hotstar Specials latest series 'The Office'.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
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).
Move over the models. It was Sushmita Sen who truly stole the show.
Day 3 at Lakme Fashion Week saw jewellery designer Farah Khan Ali's family, including siblings Sussanne and Zayed Khan, turn up to support her.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
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