Adani, Piramal among bidders for bankrupt DHFL

Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-headquartered SC Lowy have submitted their bids for the insolvent Dewan Housing Finance Corporation Ltd (DHFL), sources said.

The deadline to submit bids for DHFL ended on Saturday.

According to sources, Adani Group has bid for the wholesale and slum rehabilitation authority portfolio. Piramal Enterprises, on the other hand, has bid for its retail business.

Further, Oaktree has submitted a resolution proposal for the entire company with a bid value of Rs 20,000 crore.

The admitted debt of the insolvent NBFC is over Rs 90,000 crore.

In November last year, the Reserve Bank of India referred DHFL for bankruptcy under the Insolvency and Bankruptcy Code at the National Company Law Tribunal (NCLT). Its resolution is now underway at the Mumbai bench of NCLT.