NCLT approves Piramal’s resolution plan for DHFL
Wadhawan had filed a petition at the NCLT, and the order was reserved since January 15.
Wadhawan had filed a petition at the NCLT, and the order was reserved since January 15.
The fundraising comes after the firm received Reserve Bank of India’s approval to acquire debt-ridden Dewan Housing Finance Corporation Ltd (DHFL).
Earlier this week, DHFL had announced Piramal group's resolution plan getting approval from the RBI.
The other major contender for the debt-ridden NBFC was US-based Oaktree Capital which secured around 45 per cent of the votes, while Adani Capital was able to secure 18 per cent votes.
A sum of Rs 18,000 crore will be repaid within a period of five years in equal annual instalments, following a five-year moratorium with 11 per cent per annum interest.
Similarly, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.
The Wadhawan brothers, who denied any wrongdoing in their dealings with the bank, were supposed to appear before the central agency on Tuesday at its office in south Mumbai.
The bank granted a Rs 600 crore loan to a company called DoIT owned by Roshni Kapoor, Rakhee Kapoor Tandon, and Radha Kapoor.
Zain Shroff, Rana Kapoor’s lawyer told the court that his client has been made ‘a scapegoat’ due to public outrage against the YES Bank.
He is being produced in front of a special court for custody today evening.
