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The <keyword id="6354457" type="COMPANY" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword> (NCLT) on Monday gave its approval to <keyword id="6400918" type="COMPANY" weightage="20" keywordseo="Piramal-group">Piramal Group</keyword>'s bid for bankrupt-DHFL, subject to certain conditions. The tribunal's Mumbai-bench, chaired by H P Chaturvedi and Ravikumar Duraisamy, said the approval is subject to the final judgement from the <keyword id="6396354" type="COMPANY" weightage="20" keywordseo="national-company-law-appellate-tribunal">National Company Law Appellate Tribunal</keyword> (<keyword id="6396355" type="COMPANY" weightage="20" keywordseo="nclat">NCLAT</keyword>) and the <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword>'s judgement on Kapil Wadhawan in the matter. In its order, NCLT asked <keyword id="127124" type="COMPANY" weightage="20" keywordseo="DHFL">DHFL</keyword>'s (Dewan Housing Finance Corporation Ltd) Committee of Creditors (CoC) to consider giving more money to small fixed deposit holders under the approved resolution plan. "We are not remanding the plan back to CoC, we respect their commercial wisdom," it said. NCLT also rejected former DHFL promoter Kapil Wadhawan's plea to get access to a copy of the resolution plan. On May 25, NCLAT stayed the direction of NCLT asking the lenders of DHFL to consider the offer by Wadhawan. The appellate tribunal had also clarified that its order should not come in the way for NCLT to decide on approval for the resolution plan selected by the CoC. NCLAT's direction had come on an urgent petition moved by the <keyword id="63524" type="COMPANY" weightage="20" keywordseo="Union-Bank-of-India">Union Bank of India</keyword> on behalf of the CoC. On May 19, NCLT asked the RBI-appointed administrator of DHFL to present the settlement plan offered by Wadhawan to the CoC. In January this year, the CoC voted in favour of selling DHFL to the Piramal Group under the Insolvency and Bankruptcy Code. Last year, Wadhawan had made his settlement offer to the CoC. The offer was rejected by the creditors, citing lack of credibility and the valuations attached to the proposed asset sales. In the plan, Wadhawan had proposed to repay lenders by selling assets. In November 2019, <keyword id="30067" type="COMPANY" weightage="20" keywordseo="RBI">RBI</keyword> had referred DHFL -- then the third-largest pure-play mortgage lender -- for resolution under the Code. DHFL had gone bankrupt with more than ₹90,000 crore in debt to various lenders, including banks, mutual funds and individual investors who kept fixed deposits with the company. SEE ALSO: <a href="https://www.businessinsider.in/india/news/heres-why-fuel-prices-in-india-may-not-come-down-in-a-big-way/slidelist/83299743.cms">Here’s why fuel prices in India may not come down in a big way ⁠— at least not this year</a>

NCLT approves Piramal Group's resolution plan for DHFL

Mumbai, The <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has approved the takeover of <keyword id="533676" type="DOMAIN" weightage="20" keywordseo="Dewan-Housing-Finance-Corporation-Ltd">Dewan Housing Finance Corporation Ltd</keyword> (<keyword id="127124" type="COMPANY" weightage="20" keywordseo="DHFL">DHFL</keyword>) by <keyword id="100407" type="DOMAIN" weightage="20" keywordseo="Piramal">Piramal</keyword> Group. The development comes just a month after the Committee of Creditors (CoC) of DHFL voted in favour of Piramal's bid with 94 per cent votes and approved its resolution plan. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," said a statement by Piramal Group. Now, the proposed takeover requires the approval of the National Company Law Tribunal. The other major contender for the debt-ridden NBFC was US-based <keyword id="216100" type="COMPANY" weightage="20" keywordseo="Oaktree-Capital">Oaktree Capital</keyword> which secured around 45 per cent of the votes from the lenders in the voting process last month. The total offer of Piramal was ₹37,250 crore, compared to ₹38,400 crore offered by Oaktree. However, Piramal had offered higher upfront cash payment. The total dues of DHFL stand at around ₹90,000 crore. Piramal, in its bid, has offered an additional amount in the resolution process to fixed deposit holders, over and above what the CoC offers them through the IBC resolution. SEE ALSO: <a href="https://www.businessinsider.in/india/news/india-issues-new-guidelines-for-passengers-arriving-from-the-uk-brazil-europe-and-middle-east-countries/articleshow/81083248.cms">India issues new guidelines for passengers arriving from the UK, Brazil, Europe and Middle-East countries</a> <a href="https://www.businessinsider.in/business/startups/news/not-just-a-tiktok-clone-says-chingari-app-founder-with-their-latest-shop-within-videos-feature-which-he-claims-is-the-next-big-thing-in-social-commerce/articleshow/81084432.cms">‘Not just a TikTok clone,’ says Chingari founder with their latest shop within videos feature which he claims is the next big thing in social commerce</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f62-review-the-new-mid-range-killer/articleshow/81084382.cms">Samsung Galaxy F62 review – the new mid-range killer</a> <a href="https://www.businessinsider.in/business/corporates/news/cairn-energy-ceo-meets-indian-finance-secretary-as-shareholders-impatiently-wait-for-action-on-the-1-4-billion-tax-dispute/articleshow/81087952.cms">Cairn Energy CEO meets Indian finance secretary as shareholders impatiently wait for action on the $1.4 billion tax dispute</a>

RBI approves takeover of DHFL by Piramal Group

New Delhi, <keyword id="10062958" type="UNKNOWN" weightage="20" keywordseo="transaction-auditor-grant-thornton">Transaction auditor Grant Thornton</keyword>, in a report shared with the <keyword id="57372" type="COMPANY" weightage="20" keywordseo="Administrator">Administrator</keyword> of <keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword>, has found certain transactions which are undervalued, fraudulent and preferential in nature, putting the newly-discovered fraud at ₹6,182 crore. The Administrator of <keyword id="6423706" type="DOMAIN" weightage="20" keywordseo="dewan-housing-finance">Dewan Housing Finance</keyword> Company Ltd, appointed under the Insolvency and Bankruptcy Code, 2016 to carry out the duties under it, obtained assistance from <keyword id="10802312" type="UNKNOWN" weightage="20" keywordseo="reputed-professional-agency">reputed professional agency</keyword>, Grant Thornton to conduct investigation of the affairs of the company in respect of transactions qualified under sections 43 to 51, and sections 65 and 66 of the Code. Accordingly, the Administrator of the Company received an initial report from the professional agency appointed as the transaction auditor, indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature, falling under the aforesaid sections of the Code, as per a filing. On basis of the investigation and observations of the transaction auditor, the Administrator has filed an application before the Mumbai bench of the <keyword id="6354457" type="COMPANY" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword> (NCLT) under Section 45, Section 60(5) and Section 66 of the Code on February 20, 2021 in respect of disbursement made to certain entities as other large project loans (OLPL), against Kapil Wadhawan, <keyword id="2992416" type="PERSON" weightage="20" keywordseo="Dheeraj-Wadhawan">Dheeraj Wadhawan</keyword>, Creatoz Builders Pvt Ltd, Ikshudip Fincap Pvt Ltd, Rite Developers Pvt Ltd and certain other entities. It is to be noted that further filings may be undertaken, in due course. The nature of fraud is in relation to irregularities in disbursement of OLPL loans by the company in the past. As per the transaction auditor report shared with the Administrator, the monetary impact of the above transactions covered under the application amounts to ₹5,381.90 crore towards outstanding principal, ₹589.36 crore towards accrued interest and ₹210.85 crore towards notional loss of interest on account of charging lower rate of interest. Thus, the total impact of such transactions, as detailed in the transaction auditor's report, has been sought from the relevant entities involved, along with the interest for the relevant period, through the said application filed with NCLT. As per the report prepared by the transaction auditor, the concerned transactions occurred over a period of time, detailed in the report. Based on the report, the application has been filed with NCLT, Mumbai against 33 respondents, including Kapil Wadhawan, Dheeraj Wadhawan, Creatoz Builders Pvt Ltd, Ikshudip Fincap Pvt Ltd, Rite Developers Pvt Ltd and certain other entities. The preliminary estimation included in the application places the monetary impact of the concerned transactions at approximately ₹6,182.11 crore (which includes ₹210.85 crore towards notional loss of interest on account of charging lower rate of interest). All relevant details regarding these proceedings have been included in the application filed before the National Company Law Tribunal, Mumbai and is presently pending consideration. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nurecas-100-crore-ipo-heres-how-to-check-share-allotment-status/articleshow/81135236.cms">Nureca’s ₹100 crore IPO: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/travel/article/exploring-the-unreal-beauty-of-the-andaman-islands/articleshow/81126293.cms">Exploring the unreal beauty of the Andaman Islands</a> <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-is-leveraging-its-partnerships-with-big-players-like-google-microsoft-aws-salesforce/articleshow/81105035.cms">Happiest Minds is a smaller company that does the same thing as MindTree and L&amp;T Infotech — but clearly it is doing it a lot better</a>

Fraudulent transactions of ₹6,182 crore in DHFL unearthed

New Delhi, <keyword id="6400918" type="COMPANY" weightage="20" keywordseo="Piramal-group">Piramal Group</keyword> has won the bid to take over <keyword id="533676" type="DOMAIN" weightage="20" keywordseo="Dewan-Housing-Finance-Corporation-Ltd">Dewan Housing Finance Corporation Ltd</keyword> (<keyword id="127124" type="COMPANY" weightage="20" keywordseo="DHFL">DHFL</keyword>), sources said. <keyword id="100407" type="DOMAIN" weightage="20" keywordseo="Piramal">Piramal</keyword> received 94% of the votes from the <keyword id="4911816" type="COMPANY" weightage="20" keywordseo="Committee-of-Creditors">Committee of Creditors</keyword> (CoC), said people in the know. The minimum requirement for winning a bid is 66% votes. The other major contender, US-based <keyword id="216100" type="COMPANY" weightage="20" keywordseo="Oaktree-Capital">Oaktree Capital</keyword> secured around 45% of the votes. The total offer of Piramal was ₹37,250 crore, compared to ₹38,400 crore offered by Oaktree. However, Piramal had offered a higher upfront cash payment. The total dues of DHFL stands at around ₹90,000 crore. Piramal, in its bid, has offered an additional amount in the resolution process to fixed deposit holders, over and above what the CoC offers them through the IBC resolution. The Adani Group also had initially shown interest in the bankrupt NBFC. Amid the tussle to takeover the NBFC, Piramal had said in a statement last week: "We have full faith that the Committee of Creditors, comprising some of the most reputed financial institutions of our country, will make the fair and just choice in the voting process." It said that its bid for DHFL offers the lenders the highest upfront cash recovery, has the highest score on the evaluation matrix, is fully compliant with all regulatory norms, and is fully and immediately implementable. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-clocks-in-nearly-27-jump-in-profit-crosses-the-10-billion-revenue-in-third-quarter-of-year-2020-21/articleshow/80278852.cms">HCL Tech clocks in nearly 27% jump in profit, crosses the $10 billion revenue milestone with one more quarter left</a> <a href="https://www.businessinsider.in/india/news/india-will-begin-its-covid-19-vaccination-drive-tomorrow-heres-everything-you-need-to-know/articleshow/80281740.cms">India will begin its COVID-19 vaccination drive tomorrow — here’s a look at how the world’s largest vaccine rollout is set to take place</a> <a href="https://www.businessinsider.in/education/news/here-are-the-top-courses-in-fintech-offered-by-indias-premier-colleges/articleshow/80286668.cms">From IIMs to BITS Pilani — here are the top courses in fintech offered by India’s premier colleges</a>

Piramal wins the race to acquire DHFL — lenders approve ₹37,250 crore bid

New Delhi, <keyword id="1065178" type="COMPANY" weightage="20" keywordseo="Oaktree">Oaktree</keyword> has told the <keyword id="4911816" type="COMPANY" weightage="20" keywordseo="Committee-of-Creditors">Committee of Creditors</keyword> (CoC) of <keyword id="6423706" type="DOMAIN" weightage="20" keywordseo="dewan-housing-finance">Dewan Housing Finance</keyword> Ltd (<keyword id="127124" type="COMPANY" weightage="20" keywordseo="DHFL">DHFL</keyword>) that there has been a "persistent campaign to discredit and misrepresent its <keyword id="5004374" type="PERSON" weightage="20" keywordseo="resolution-plan">resolution plan</keyword>". In a letter to the CoC, the India Opportunities Fund, Singapore, which has put in the bid noted that this campaign is introducing bias into the decision making process. Oaktree said the CoC is not considering ₹2,700 crore provided under its resolution plan. It added that Oaktree is offering a much higher fair market value by more than ₹4,503 crore compared to the second highest bidder. Noting that its bid offered a clean structure for the shareholders without any conditions, it said that the bid by the second highest bidder is conditional. Oaktree has demanded the CoC reject the proposal by the other bidder "dressed as implementation steps". Oaktree has committed to infuse equity and debt and turn around the operations of DHFL entity on a standalone, going concern basis. In contrast, the other bidder seeks to merge the entity into its housing finance business. "The contagion risk of the indebtedness to the financial instruments held by the financial creditors is significant," it said. It said that the other bid is "a bad deal for creditors as cash flows generated by DHFL entity will be used to service external and unrelated debt of the wholesale business after the merger". "The financial creditors emerging from one resolution process then be exposed to another indebted company and ultimately the risk of a second resolution process will be a failure of <keyword id="192838" type="COMPANY" weightage="20" keywordseo="IBC">IBC</keyword> and CIRP," Oaktree said. Oaktree said its intention was never to address the second highest bidder's plan. However, it said the CoC did not provide clarifications to it on subordinated debt, and its proposal to offer another ₹1,700 crore in additional interest income was ignored while the other bidder was given the opportunity. Its ₹1,000 crore value prescribed to Pramerica is not being considered, Oaktree said. Oaktree said the burden of responsibility is placed on CoC as a guardian of public money and its duty to vote for the highest bidder is unambiguous. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-tcs-ril-maruti-airtel-godrej-properties-oberoi-realty-sobha-and-others/articleshow/80145182.cms">Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/india/news/petrol-has-reached-an-all-time-high-in-delhi-after-a-hike-of-23-paise/articleshow/80146505.cms">Petrol price is now past ₹84 in Delhi, over 62% of it is taxes</a>

DHFL resolution: Oaktree cries foul, says persistent campaign to discredit its bid

Bankrupt non-banking financial company (<keyword id="6355260" type="UNKNOWN" weightage="20" keywordseo="NBFC">NBFC</keyword>) <keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword> has defaulted on the repayment of Rs 50 crore on secured non-convertible debentures (NCD) and has attributed its failure to repay the principal payment to the moratorium restrictions on it. "It may please be noted that the company is currently under moratorium pursuant to Section 14 of the Code since November 29, 2019 and hence, the company is not in a position to make payment of interest or principal to any of the company lenders, including NCDs holders," DHFL said in a regulatory filing. The payments to the lenders or NCD holders remains in abeyance and will be subject to the outcome of the corporate insolvency resolution process (CIRP) initiated against the company as per the Insolvency and Bankruptcy Code, 2016. Last November, the Reserve Bank of India (RBI) superseded the Board of Directors of the company and appointed an administrator and accordingly, the board powers were vested in the firm's administrator. Further, the Mumbai-bench of the National Company Law Tribunal (NCLT) at Mumbai commenced the CIRP against the company in December, following an application by the RBI. The company reportedly has debt of around Rs 97,000 crore and has allegedly siphoned off Rs 31,000 crore from the total bank loans. Company promoters Kapil Wadhawan and Dheeraj Wadhawan were arrested by the Central Bureau of Investigation in April and are currently facing probe.

DHFL fails to repay ₹50 crore on secured non-convertible debentures – blames moratorium restrictions for non-payment

Mumbai, Dec 29 () The Reserve Bank of India-appointed administrator of the crippled Dewan Housing Finance Ltd (DHFL) called for a meeting of its creditors for the first time on Monday after the mortgage lender was admitted for insolvency proceedings.
 The third-largest pure play mortgage player is the first non-banking financial company or housing finance company to face the corporate insolvency resolution process.
 The Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company for insolvency resolution on December 2 and appointed Indian Overseas Bank former managing director and CEO R Subramaniakumar as the company's administrator.
 "Since the resolution professional (administrator) has now been appointed, he is meeting all the creditors and will discuss the way forward for resolution of the company," a source told .
 DHFL did not respond to an e-mail query.
 The meeting on Monday will be attended by all creditors of the company including banks, bondholders, insurance and mutual fund companies.
 Subramaniakumar will also discuss timelines so that the account is resolved at the earliest, he said.
 "The status of the claims that have been received so far by the company will also be decided upon," said another source.
 In its order on December 3, the NCLT asked the company's administrator to update the list of depositors, along with the amount payable to each of them. Following this, the administrator had reportedly asked all its fixed depositors and bondholders to file their claims by December 17.
 The NCLT order had also noted that the company has an outstanding unsecured loan of Rs 18,882 crore as of March 31, 2018. The unsecured loans constituted Rs 10,243 crore of public deposits for the same period.
 Citing governance issues and severe liquidity crisis, the regulator on November 20 superseded the board of DHFL and appointed Subramaniakumar as its administrator.
 The decision on DHFL came after the government on November 15 notified Section 227 of the Insolvency and Bankruptcy Code (IBC), empowering the RBI to refer stressed financial service providers with an asset size of at least Rs 500 crore to insolvency courts.
 The central bank has also appointed a three-member committee, consisting of IDFC First Bank Non-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance Managing Director and CEO N S Kanan, and Association of Mutual Funds in India CEO N S Venkatesh, to advise the company's administrator in the resolution process.
 As of July 2019, the beleaguered home financier owes Rs 83,873 crore to banks, National Housing Board, mutual funds and bondholders/retail bondholders. Of the total, secured debt stands at Rs 74,054 crore and unsecured Rs 9,818 crore. Most banks have or are going to declare DHFL account as non-performing assets in the third quarter. HV HRS

DHFL creditors to meet on Monday for discussing resolution

<keyword id="14855943" type="General" weightage="20" keywordseo="Torrent-Investments" source="Orion">Torrent Investments</keyword> has reportedly informed lenders of <keyword id="6360090" type="General" weightage="20" keywordseo="Reliance-Capital" source="Orion">Reliance Capital</keyword> that it is unwilling to participate in the auction to sell the financial services company. This is likely to hurt the process to maximise returns from the sale because only the <keyword id="120582" type="General" weightage="20" keywordseo="Hinduja-Group" source="Orion">Hinduja Group</keyword> may be left in the fray. Earlier, while opposing the extension of the auction, in a letter to RBI Deputy Governor M. Rajeshwar Rao, Torrent Investments had sought directions to Nageswara Rao Y, administrator of Reliance Capital. The letter said that the challenge process was concluded on December 21, 2022, with the administrator's email to Torrent Investments confirming its NPV bid amount of Rs 8,640 crore as the highest bid amount. However, Torrent Investments was made aware that a competing resolution applicant Hinduja Group had belatedly submitted a revised financial proposal on December 22 after completion of the challenge process on December 21 and after having learnt that Torrent Investments had emerged as the highest bidder. In repeated <keyword id="1786965" type="General" weightage="20" keywordseo="Supreme-Court-judgements" source="Orion">Supreme Court judgements</keyword>, it has been held that maximisation of value is a key factor in any plan approval by CoC. The only resolution done for a financial services company under special powers of RBI Section 227 was DHFL which was won by Piramal Group. In that case <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword>, which was not even a resolution applicant, was admitted by CoC as it offered highest value to the Piramal bid. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

Torrent Investments not to participate in 2nd auction for Reliance Capital; Hinduja sole bidder

New Delhi, Nov 21 () A day after the Reserve Bank decided to refer crippled Dewan Housing Finance to insolvency courts, State Bank of India Chairman Rajnish Kumar said banks expect specified timelines of the Insolvency and Bankruptcy Code be adhered to in this case.
 The Mumbai-headquartered pureplay mortgage lender has become the first NBFC or housing finance company to go for bankruptcy resolution.
 "It is just taken to NCLT process, so whatever happens for the NCLT process, the same process will be followed here. There is a 330-day timeline that is also an extended timeline otherwise normally it should happen in 180 days. That is what the intent of IBC process, so let us hope those timelines are adhered to," he told reporters here.
 Last Friday, the government had notified Section 227 of the IBC empowering the RBI to refer financial sector players like NBFCs and HFCs, but excluding banks, with assets worth of at least Rs 500 crore to insolvency courts.
 As of July 2019, the beleaguered home financier owes Rs 83,873 crore to banks, the National Housing Board, mutual funds and bondholders/retail bondholders. Of this secured debt is Rs 74,054 crore and Rs 9,818 crore is unsecured.
 SBI is one of the lenders to DHFL. Most banks have or are going to declare DHFL account as NPA in the third quarter.
 DHFL lenders were working on a resolution plan to pick up 51 per cent in the company by converting a part of their debt into equity. But the plan was yet to be formally cleared.
 Talking about the decision of the Union Cabinet for the telecom sector, Kumar said this is a very important sector for the economy.
 It is important that the sector is healthy, he added.
 The government on Wednesday doled out a Rs 42,000 crore relief to debt-laden telecom companies after it agreed not to take any payments for spectrum they use for the next two years. DP MR

SBI hopes IBC timeline be adhered to in DHFL resolution

The CBI carried out searches at seven locations on Monday in connection with the <keyword id="8878575" type="UNKNOWN" weightage="20" keywordseo="yes-bank-scam">Yes Bank scam</keyword> pertaining to the Rs 600 crore alleged bribe to the family of its co-founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> by DHFL, officials said. Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai, they said. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with <keyword id="152129" type="COMPANY" weightage="20" keywordseo="Kapil-Wadhawan">Kapil Wadhawan</keyword>, DHFL promoter, for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said. According to the <keyword id="522895" type="ORGANIZATION" weightage="20" keywordseo="CBI-FIR">CBI FIR</keyword>, the scam started taking shape between April and June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL). In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said. See also: <a href="https://www.businessinsider.in/finance/news/finance-minister-assures-employment-and-salary-at-yes-bank-at-least-for-one-year/articleshow/74514015.cms">Finance Minister assures employment and salary at Yes Bank at least for one year</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-falls-10-after-rbi-limits-withdrawals/articleshow/74504094.cms">Yes Bank share price nose dives 72% after RBI limits withdrawals</a> <a href="https://www.businessinsider.in/finance/news/rbi-has-a-new-scheme-to-rescue-yes-bank-will-be-released-shortly-says-shaktikanta-das/articleshow/74506268.cms">RBI has a new 'scheme' to rescue Yes Bank — will be released shortly, says Shaktikanta Das</a>

You Searched For "DHFL" and got 10 results

NCLT approves Piramal Group's resolution plan for DHFL

PTI

RBI approves takeover of DHFL by Piramal Group

IANS

Fraudulent transactions of ₹6,182 crore in DHFL unearthed

IANS

Piramal wins the race to acquire DHFL — lenders approve ₹37,250 crore bid

IANS

DHFL resolution: Oaktree cries foul, says persistent campaign to discredit its bid

IANS

DHFL fails to repay ₹50 crore on secured non-convertible debentures – blames moratorium restrictions for non-payment

IANS

DHFL creditors to meet on Monday for discussing resolution

PTI

Torrent Investments not to participate in 2nd auction for Reliance Capital; Hinduja sole bidder

IANS

SBI hopes IBC timeline be adhered to in DHFL resolution

PTI

Yes Bank scam escalates as CBI carries out searches to connect Rana Kapoor to DHFL promoter Kapil Wadhawan

PTI

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