The other major contender, US-based
The total offer of Piramal was ₹37,250 crore, compared to ₹38,400 crore offered by Oaktree. However, Piramal had offered a higher upfront cash payment.
The total dues of DHFL stands at around ₹90,000 crore.
Piramal, in its bid, has offered an additional amount in the resolution process to fixed deposit holders, over and above what the CoC offers them through the IBC resolution.
The Adani Group also had initially shown interest in the bankrupt NBFC.
Amid the tussle to takeover the NBFC, Piramal had said in a statement last week: "We have full faith that the Committee of Creditors, comprising some of the most reputed financial institutions of our country, will make the fair and just choice in the voting process."
It said that its bid for DHFL offers the lenders the highest upfront cash recovery, has the highest score on the evaluation matrix, is fully compliant with all regulatory norms, and is fully and immediately implementable.
SEE ALSO:
HCL Tech clocks in nearly 27% jump in profit, crosses the $10 billion revenue milestone with one more quarter left
India will begin its COVID-19 vaccination drive tomorrow — here’s a look at how the world’s largest vaccine rollout is set to take place
From IIMs to BITS Pilani — here are the top courses in fintech offered by India’s premier colleges