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The CBI and ED are investigating loans issued by Yes Bank to DHFL when Rana Kapoor was its MD and CEO.

‘Rana Kapoor ignored advice on DHFL deal’

By Neeraj Chauhan, Hindustan Times, New Delhi
PUBLISHED ON SEP 08, 2021 03:36 AM IST
CBI and ED are investigating loans issued by Yes when Rana Kapoor was its MD and CEO (till January 2019) that have turned bad.
Meanwhile, fixed depositors plan to challenge the approval of the Piramal group’s resolution plan in the National Company Law Appellate Tribunal (NCLAT).(Mint)
Meanwhile, fixed depositors plan to challenge the approval of the Piramal group’s resolution plan in the National Company Law Appellate Tribunal (NCLAT).(Mint)

DHFL creditors reject plan to give FD holders more

Livemint | By Shayan Ghosh, Mumbai
PUBLISHED ON JUN 24, 2021 05:53 AM IST
The proposal was also rejected by depositors who have a voting share of 6.18%.
As of date, FD holders have claims worth <span class='webrupee'>₹</span>5,299 crore, but will likely recover less than half of it.(Mint )
As of date, FD holders have claims worth 5,299 crore, but will likely recover less than half of it.(Mint )

DHFL FD holders may get 966 crore more

Livemint | By Shayan Ghosh, Deborshi Chaki, Mumbai
PUBLISHED ON JUN 22, 2021 12:45 AM IST
DHFL’s CoC may approve an extra 966 crore for FD holders from the recoveries made.
In January, Piramal group had proposed that DHFL be delisted, which was accepted by the DHFL’s committee of creditors.(Mint)
In January, Piramal group had proposed that DHFL be delisted, which was accepted by the DHFL’s committee of creditors.(Mint)

DHFL investors to move Supreme Court against plan to delist stocks

By Anirudh Laskar, Mumbai
PUBLISHED ON JUN 18, 2021 07:12 AM IST
  • Petitioners said the NCLT and Sebi did not inform investors about the delisting
BSE Sensex and NSE said that DHF made an announcement about the approval of the resolution plan under the Insolvency and Bankruptcy Code (IBC). (File Photo)
BSE Sensex and NSE said that DHF made an announcement about the approval of the resolution plan under the Insolvency and Bankruptcy Code (IBC). (File Photo)

BSE Sensex, NSE to suspend trading in DHFL shares from today

By hindustantimes.com | Written by Meenakshi Ray
PUBLISHED ON JUN 14, 2021 09:46 AM IST
BSE Sensex and NSE said in separate circulars on Friday that they would suspend trading in the DHFL shares with effect from Monday.
In November 2019, RBI had referred DHFL for resolution under Insolvency and Bankruptcy Code.(Mint Photo)
In November 2019, RBI had referred DHFL for resolution under Insolvency and Bankruptcy Code.(Mint Photo)

DHFL debt resolution plan approved: All you need to know

By hindustantimes.com | Edited by Amit Chaturvedi, Hindustan Times, New Delhi
PUBLISHED ON JUN 08, 2021 10:52 AM IST
The Piramal group is acquiring Dewan Housing Finance Corporation for 37,250 crore, but with a few conditions. The National Company Law Tribunal has asked DHFL's committee of creditors to consider giving more money to small fixed deposit holders.
The RBI had in November 2019 referred DHFL to the NCLT for insolvency proceedings.(File photo)
The RBI had in November 2019 referred DHFL to the NCLT for insolvency proceedings.(File photo)

NCLAT stays order on Wadhawan

By Gopika Gopakumar, Mumbai
PUBLISHED ON MAY 26, 2021 12:01 AM IST
The NCLAT said the appeal should not delay a resolution process currently underway, where the Ajay Piramal-led Piramal Group has received approval to acquire DHFL.
In November 2018, the RBI superseded the board of DHFL.(PTI file photo)
In November 2018, the RBI superseded the board of DHFL.(PTI file photo)

Lenders told to weigh Kapil Wadhawan's offer

By Anirudh Laskar, Gopika Gopakumar, Livemint, Mumbai
UPDATED ON MAY 21, 2021 12:56 PM IST
Wadhawan, who is facing charges of money laundering and diversion of bank funds, has repeatedly accused DHFL’s lenders of selling the company much below its fair value.
A forensic audit report by Grant Thornton revealed the irregularities of DHFL, after which the probe agency registered a case on March 15. (HT PHOTO).
A forensic audit report by Grant Thornton revealed the irregularities of DHFL, after which the probe agency registered a case on March 15. (HT PHOTO).

CBI books DHFL for creating over 2 lakh fake home loan accounts under PMAY

PUBLISHED ON MAR 24, 2021 07:08 PM IST
  • The scam hit DHFL is already being investigated by both CBI and the Enforcement Directorate (ED) in the Yes Bank scandal involving its former CEO Rana Kapoor.
The Reserve Bank has, however, declined to transfer Dewan Housing Finance Corp.’s deposit-taking licence to Piramal Group.(PTI)
The Reserve Bank has, however, declined to transfer Dewan Housing Finance Corp.’s deposit-taking licence to Piramal Group.(PTI)

Piramal gets RBI nod for DHFL deal

By Gopika Gopakumar, Mumbai
PUBLISHED ON FEB 18, 2021 11:29 PM IST
Lenders to the troubled lender are now in the process of approaching the National Company Law Tribunal (NCLT) with the resolution proposal for a final approval.
Adani Group has made the highest offer among the four bidders of <span class='webrupee'>₹</span>31,250 cr for buying DHFL’s entire business.(MINT_PRINT)
Adani Group has made the highest offer among the four bidders of 31,250 cr for buying DHFL’s entire business.(MINT_PRINT)

DHFL resolution: Lenders approve Piramal's bid

PTI | , New Delhi
PUBLISHED ON JAN 17, 2021 08:29 PM IST
Piramal's bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital.
The committee of creditors (CoC) for DHFL, which is overseeing the sale of the mortgage lender, is currently in talks with top bidders Oaktree and Piramal Capital.(PTI)
The committee of creditors (CoC) for DHFL, which is overseeing the sale of the mortgage lender, is currently in talks with top bidders Oaktree and Piramal Capital.(PTI)

Oaktree provides unconditional, implementable plan for DHFL resolution

New Delhi | By Press Trust of India| Posted by Mallika Soni
UPDATED ON JAN 07, 2021 07:10 PM IST
Revised bids for DHFL were received last month with Oaktree and Piramal Enterprises jostling for the top spot.
The committee of creditors (CoC) for DHFL, which is overseeing the sale of the mortgage lender, is currently in talks with top bidders Oaktree and Piramal Capital.(PTI)
The committee of creditors (CoC) for DHFL, which is overseeing the sale of the mortgage lender, is currently in talks with top bidders Oaktree and Piramal Capital.(PTI)

Oaktree’s bid for DHFL’s insurance biz faces hurdle

Livemint | By Anirudh Laskar
PUBLISHED ON JAN 04, 2021 11:42 PM IST
DHFL owes 87,000 crore to banks and bondholders, including State Bank of India, Life Insurance Corp. of India, Union Bank of India and many other foreign and domestic lenders.
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)

Piramal Cap edges past Oaktree in battle for control of DHFL

Livemint, Mumbai | By Anirudh Laskar
UPDATED ON DEC 28, 2020 05:04 AM IST
Piramal raised its total offer for DHFL to Rs 38,250 crore on 24 December, improving on Oaktree’s commitment of Rs 36,400 crore, and emerging as the top bidder based on evaluation metrics set by the lenders to the bankrupt mortgage lender, the people said on condition of anonymity.
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)

Oaktree Cap adds 1,700 crore in bid to sweeten offer for DHFL

Livemint, Mumbai | By Gopika Gopakumar
PUBLISHED ON DEC 25, 2020 12:39 AM IST
Oaktree’s offer came a day after Piramal Capital raised its bid by 1,000 crore and also improved its offer for a controlling stake in DHFL’s Pramerica Life Insurance Co. to 1,000 crore from 300 crore.
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)
A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office on the outskirts of Mumbai.(REUTERS)

Piramal makes his case as race for DHFL intensifies

Livemint, Mumbai | By Gopika Gopakumar
PUBLISHED ON DEC 21, 2020 11:39 PM IST
Piramal also urged the administrator to consider the timely closure of the resolution process, to maintain its sanctity. DHFL has already witnessed three rounds of bidding over the past two months.
Piramal had bid Rs 32,250 crore in the fourth round, slightly lower than Oaktree’s bid of Rs 32,700 crore. The attractiveness of a bid is, however, judged on how much money they offer lenders’ upfront and other criteria.(Twitter/@PiramalGroup)
Piramal had bid Rs 32,250 crore in the fourth round, slightly lower than Oaktree’s bid of Rs 32,700 crore. The attractiveness of a bid is, however, judged on how much money they offer lenders’ upfront and other criteria.(Twitter/@PiramalGroup)

Piramal, Oaktree ready to sweeten bids for DHFL’s biz

Livemint, Mumbai | By Anirudh Laskar
UPDATED ON DEC 21, 2020 09:00 AM IST
The developments demonstrate the fierce competition between the two suitors to take over the home financier amid a significant recovery in the quality of its assets from the initial months of the pandemic and a wider revival in the non-banking space, helped by falling credit costs.
Iqbal Mirchi.(File photo)
Iqbal Mirchi.(File photo)

Mumbai: Special court asks Iqbal Mirchi’s wife, sons to appear

Hindustan Times, Mumbai | By Charul Shah
UPDATED ON DEC 17, 2020 05:34 PM IST
The ED had initiated money laundering investigation against the family last year. The agency has provisionally attached the family’s assets to the tune of Rs798 crore in India and abroad under the provisions of PMLA
The revised bids were called after Adani group made an unsolicited offer to buy the entire company instead of the select assets it had bid for earlier(Reuters File Photo)
The revised bids were called after Adani group made an unsolicited offer to buy the entire company instead of the select assets it had bid for earlier(Reuters File Photo)

Oaktree Cap emerges as highest bidder for DHFL

Mint, Mumbai | By Gopika Gopakumar
PUBLISHED ON DEC 15, 2020 12:28 AM IST
Oaktree Capital offered to pay Rs32,700 crore in the fourth round of bidding for mortgage lender DHFL’s entire portfolio, followed by Piramal with Rs32,350 crore and Adani Enterprises with Rs29,860 crore, the people aware of the development said.
The decision to seek revised bids till December 10 was taken after Adani Group made a higher unsolicited bid for the entire portfolio last week.(Mint)
The decision to seek revised bids till December 10 was taken after Adani Group made a higher unsolicited bid for the entire portfolio last week.(Mint)

DHFL lenders push deadline to Dec 10

Hindustan Times, Mumbai | By Gopika Gopakumar, Mumbai
PUBLISHED ON NOV 27, 2020 11:45 PM IST
In case any of the bidders fail to offer an improved plan before the deadline, the CoC will consider the one submitted on November 17 as the final resolution plan.
DHFL’s committee of creditors met last Tuesday to discuss ways to deal with the issues involving the offers made by the four bidders(Mint)
DHFL’s committee of creditors met last Tuesday to discuss ways to deal with the issues involving the offers made by the four bidders(Mint)

Lenders likely to seek new bids for DHFL

Livemint, Mumbai | By Gopika Gopakumar and Anirudh Laskar
UPDATED ON NOV 25, 2020 09:17 AM IST
The decision by the lenders to start the bidding process all over again comes after the Adani group’s unsolicited offer last week to buy the entire company instead of the select assets it had bid on earlier
The sale process of DHFL took an unexpected turn last week after the Adani group offered to buy DHFL’s entire business instead of the select portfolio that it bid earlier.(Mint)
The sale process of DHFL took an unexpected turn last week after the Adani group offered to buy DHFL’s entire business instead of the select portfolio that it bid earlier.(Mint)

SBI sees DHFL book fetching more value

Livemint, Mumbai | By Anirudh Laskar
UPDATED ON NOV 20, 2020 06:01 AM IST
SBI conveyed its decision to other members of a creditors’ consortium in a meeting to evaluate the revised bids received from Oaktree Capital Management, Piramal Enterprises Ltd, Adani Enterprises Ltd and SC Lowy.
Catalyst Trusteeship Ltd (CTL), which represents retail bondholders of DHFL, said that unsecured financial creditors are unlikely to oppose the distribution mechanism as there is some amount set aside for them.(Mint | Aniruddha Chowdhury)
Catalyst Trusteeship Ltd (CTL), which represents retail bondholders of DHFL, said that unsecured financial creditors are unlikely to oppose the distribution mechanism as there is some amount set aside for them.(Mint | Aniruddha Chowdhury)

Lenders look to repay FD depositors

Livemint, Mumbai | By Gopika Gopakumar
PUBLISHED ON NOV 18, 2020 03:50 AM IST
According to the minutes of a meeting of the Committee of Creditors (CoC) held last week, the lenders are looking at various scenarios to distribute the proceeds of the funds received from the new investor.
Adani had bid around ₹2,700 crore for the wholesale/slum redevelopment authority books only.(Twitter/@AdaniOnline)
Adani had bid around ₹2,700 crore for the wholesale/slum redevelopment authority books only.(Twitter/@AdaniOnline)

Adani group’s surprise sparks new auction for DHFL’s assets

Livemint, Mumbai | By Anirudh Laskar
PUBLISHED ON NOV 17, 2020 07:58 AM IST
The sale process took a dramatic turn on Saturday after Adani Enterprises Ltd made an unsolicited bid for the assets of DHFL after the deadline for submitting revised bids ended on November 9.
Yes Bank founder Rana Kapoor.(HT file)
Yes Bank founder Rana Kapoor.(HT file)

DHFL fraud case: Court grants bail to Yes Bank co-founder Rana Kapoor’s daughter Roshini

Hindustan Times, Mumbai | By Charul Shah
UPDATED ON NOV 12, 2020 03:02 PM IST
Roshini is one of the eight accused, who have been booked by the CBI on charges of fraud and corruption. Earlier, corruption charges were dropped by a sessions’ court for want of sanction of prosecution, but allegations of cheating and conspiracy remain
Bidders have suggested that after the acquisition, DHFL will issue non-convertible debentures (NCDs) at 6.5% coupon to lenders, existing NCD holders and also to themselves. (Photo by Aniruddha Chowdhury/Mint)
Bidders have suggested that after the acquisition, DHFL will issue non-convertible debentures (NCDs) at 6.5% coupon to lenders, existing NCD holders and also to themselves. (Photo by Aniruddha Chowdhury/Mint)

FD holders left out of DHFL’s resolution bids

Livemint, Mumbai | By Gopika Gopakumar
PUBLISHED ON NOV 10, 2020 11:28 PM IST
DHFL’s committee of creditors (CoC) has received revised bids from Adani Group, Piramal Enterprises, US-based Oaktree Capital and Hong Kong-based SC Lowy to either buy a stake in the company or buy out its assets, two people familiar with the development said.
Mumbai, India - April 27, 2020: DHFL Promoters Kapil and Dheeraj Wadhawan accused in Yes bank fraud cases, have been taken into CBI Custody and has been produced in session court from CBI Headquarter BKC Bandra in Mumbai, India, on Monday, April 27, 2020. (Photo by Vijayanand Gupta/Hindustan Times)(Vijayanand Gupta/HT Photo)
Mumbai, India - April 27, 2020: DHFL Promoters Kapil and Dheeraj Wadhawan accused in Yes bank fraud cases, have been taken into CBI Custody and has been produced in session court from CBI Headquarter BKC Bandra in Mumbai, India, on Monday, April 27, 2020. (Photo by Vijayanand Gupta/Hindustan Times)(Vijayanand Gupta/HT Photo)

Yes Bank fraud case: Bombay HC rejects default bail pleas of DHFL promoters Kapil, Dheeraj Wadhawan

Hindustan Times, Mumbai | By Kanchan Chaudhari
PUBLISHED ON NOV 04, 2020 12:26 PM IST
The CBI booked the Wadhawans in March along with Yes Bank promoter Rana Kapoor and his family members for alleged conspiracy, cheating, and under the Prevention of Corruption Act
The lenders’ decision comes after the committee of creditors met on Monday.(Mint)
The lenders’ decision comes after the committee of creditors met on Monday.(Mint)

DHFL lenders seek higher bids by Oct 31 after CoC meet

Hindustan Times, Mumbai | By Gopika Gopakumar, Mumbai
PUBLISHED ON OCT 26, 2020 11:28 PM IST
DHFL has received bids from Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy to either pick a stake in the company or buy out assets.
Application has been filed with the NCLT, Mumbai against 87 respondents, including Kapil Wadhawan, Dheeraj Wadhawan, Township Developers India Ltd, Wadhawan Holdings Private Limited, Dheeraj Township Developers Private Limited, Wadhawan Consolidated Holdings Pvt Ltd and certain others entities as reported by the transaction auditor.(Aniruddha Chowdhury/Mint)
Application has been filed with the NCLT, Mumbai against 87 respondents, including Kapil Wadhawan, Dheeraj Wadhawan, Township Developers India Ltd, Wadhawan Holdings Private Limited, Dheeraj Township Developers Private Limited, Wadhawan Consolidated Holdings Pvt Ltd and certain others entities as reported by the transaction auditor.(Aniruddha Chowdhury/Mint)

DHFL case: Auditor flags fraudulent transactions worth Rs 17,394 cr

Mumbai | By Press Trust of India | Posted by: Shankhyaneel Sarkar
UPDATED ON SEP 03, 2020 10:14 AM IST
The administrator of Dewan Housing Finance Corporation Limited (DHFL), appointed under the Insolvency and Bankruptcy Code (IBC), obtained assistance from Grant Thornton to conduct investigation into the affairs of the mortgage firm.
ED filed a charge sheet against Rana Kapoor, his wife, and three daughters for money laundering on the basis of its investigation.(Satish Bate/HT File Photo)
ED filed a charge sheet against Rana Kapoor, his wife, and three daughters for money laundering on the basis of its investigation.(Satish Bate/HT File Photo)

YES Bank co-founder’s bail plea rejected by special PMLA court

Hindustan Times, Mumbai | By Charul Shah
UPDATED ON JUL 21, 2020 08:30 PM IST
YES Bank’s co-founder Rana Kapoor was arrested by ED on March 8 and produced before the special PMLA court.
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