NCLT approves Piramal’s resolution plan for DHFL
Wadhawan had filed a petition at the NCLT, and the order was reserved since January 15.
The insolvent Dewan Housing Finance Corporation Ltd (DHFL) reported a consolidated net loss of Rs 2,122.65 crore for the quarter ended on September 30, 2020. The company had posted a net loss of Rs 6,640.62 crore for the same period of last financial year.
For the second quarter, company’s total revenue from operations during the period stood 4.65 per cent higher at Rs 2,204.81 crore, as compared to Rs 2,106.71 crore in the corresponding period last fiscal.
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The interest income in Q2 increased 3 per cent year-on-year (YoY) to Rs 2,190 crore, total expenses saw a massive decline of 49 per cent YoY to Rs 4,972 crore.
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Around 29 per cent of its account holders had availed moratorium as on August 31, 2020, it said.
The NBFC is currently under bankruptcy and is undergoing resolution process through IBC. Four suitors have submitted plans to acquire the company or its separate businesses.
Currently, Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy are in the fray.
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