
Reprieve for DHFL’s small fixed deposit holders
Lenders decide to pay FD depositors holding up to ₹2 lakh the full amount while other depositors will face the distribution mechanism.
Lenders decide to pay FD depositors holding up to ₹2 lakh the full amount while other depositors will face the distribution mechanism.
The tycoon has finally won DHFL in a bruising bidding war. Here's Fortune India's earlier story explaining why the ailing home finance company is critical to his plans.
None of the three prospective bidders submitted a resolution plan for the Mumbai-based real estate company before the deadline expired on January 7.
As Piramal and Oaktree lock themselves in a fierce bidding war, one can’t rule out a legal challenge to the first-ever finance company undergoing the IBC process.
Total profits of the Fortune India 500 companies declined nearly 22% over the previous year, while cumulative revenues fell by 1.4%.
Lenders are to decide the fate of more than 55,000 fixed deposit holders in two days. In all likelihood, they will lose over 60% of their investments.
Race between Oaktree, Piramal, Adani to be decided in three days, committee of creditors to take final call on December 23.
Banks led by State Bank of India had finalised a resolution plan for DHFL when a court case scuttled it at the last moment. A revised plan is expected to be ready by Monday.
Smallcase Technologies is trying to ignite investor interest by offering an alternative to mutual funds. Its run has been good so far. Next? A million-strong investor base by March 2020.
India’s current slowdown is as much a result of the lack of trust between various stakeholders in society as the poor domestic and global economic conditions.