Piramal acquires DHFL for Rs 34k cr

In the first insolvency resolution in the financial services space, Piramal Group has concluded payment of Rs 34,250 crore to take over Dewan Housing and Finance (DHFL). The deal is likely to help banks that had been hit by the company’s collapse. The payment will bolster the finances of banks that have written off loans to DHFL, whose promoters are accused of fraud.

In the first insolvency resolution in the financial services space, Piramal Group has concluded payment of Rs 34,250 crore to take over Dewan Housing and Finance (DHFL). The deal is likely to help banks that had been hit by the company’s collapse. The payment will bolster the finances of banks that have written off loans to DHFL, whose promoters are accused of fraud. from Times of India https://ift.tt/3umE1qV

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