Adani Group, Piramal included in bidder for DHFL

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4 ...- India TV Paisa for DHFL
Photo:FILE 4 companies bid for DHFL

new Delhi. The four entities bidding for financial company DHFL include Adani Group and Piramal Enterprises. Sources gave this information. DHFL is the first financial services company placed in insolvency process. In addition, US-based Oaktree and Hong Kong-based SC Lobby bid for DHFL on October 17, the last day of the final bid submission, sources said. In November, the Reserve Bank of India handed over DHFL to the National Company Law Tribunal (NCLT) for insolvency proceedings. DHFL is the first financial company to be sent by the RBI to NCLT exercising special powers under Section 227. Earlier, the company’s board was dismissed and R Subramanyakumar was appointed as the administrator. He is also an insolvent professional under the IBC.

According to sources, Oaktree has bid for the entire company and has bid of Rs 20,000 crore, while the liability of the company is Rs 95,000 crore and cash Rs 10,000 crore. The Adani Group has bid for DHFL’s Rs 40,000-crore bulk and slum rehabilitation authority (SRA) portfolio, valued at around Rs 3,000 crore. Piramal Enterprises has bid for DHFL’s retail portfolio. The company has bid Rs 12,000 crore for this business. According to bankers, the fourth bidder, SC Lawy’s bid, has several conditions, which are not possible to consider.

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