The development comes just a month after the Committee of Creditors (CoC) of DHFL voted in favour of Piramal's bid with 94 per cent votes and approved its resolution plan.
"We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," said a statement by Piramal Group.
Now, the proposed takeover requires the approval of the National Company Law Tribunal.
The other major contender for the debt-ridden NBFC was US-based
The total offer of Piramal was ₹37,250 crore, compared to ₹38,400 crore offered by Oaktree. However, Piramal had offered higher upfront cash payment.
The total dues of DHFL stand 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.
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