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PEL finally takes over DHFL
Piramal Enterprises says it has received a letter of intent from DHFL's creditors.
Piramal Ent says DHFL Administrator informs co of Committee Of Creditors declaring it's arm Piramal Capital & Housing Finance as successful resolution applicant
Absolutely There were so many red flags and in anycase if one looks into the history,hardly 1 out of 10 turnarounds play out. With the mess in which DHFL was,a sensible investor would always avoid it. Well,some of my friends too were into it,warned but human behavior🙂
On asking people to AVOID DHFL since 450 levels,I was abused. Now that the shareholders are gifted with ZERO value,the stake holders abusing authorities. Well well well....
What will Biden era mean for the world and India? | Govt blinks, offers to defer farm laws | Piramal to delist DHFL | The fear of flying at Mount 50K | Despite improvement, India still in bottom half of EM league table Here's the link to today's e-paper
Stuck in insolvency proceedings, Dewan Housing Finance Corp. Ltd has got a successful bidder in Piramal Enterprises as of now. But challenges remain. Losing bidders may take legal recourse & even retail fixed deposit holders could move the court.
#ResearchReport Piramal Enterprises DHFL buyout is a significant step toward diversification. Read more-
DHFL says Committee of Creditors Approved Piramal's Resolution Plan @suchetadalal @Moneylifers @yogtoday