Money & Banking

DHFL: Creditors’ panel approves Piramal’s resolution plan

Our Bureau Mumbai | Updated on January 17, 2021

Dewan Housing Finance Corporation Ltd on Sunday said the resolution plan submitted by Piramal Capital and Housing Finance Limited has been approved by the Committee of Creditors by majority voting.

 

“....this is to inform you that the e-voting on resolutions pursuant to the 18th meeting of the Committee of Creditors of the Company (CoC) concluded on January 15, 2021 at 8 pm IST and the resolution plan submitted by Piramal Capital and Housing Finance Limited (under Option I in terms of the RFRP dated September 16, 2020) was duly approved by CoC by majority voting under section 30(4) of the Insolvency & Bankruptcy Code read with Reg. 39(3) of CIRP Regulations, as the successful resolution plan,” DHFL said in a regulatory filing.

According to sources, Piramal garnered 94 per cent of the votes while Oaktree Capital received 45 per cent of votes.

 

Published on January 17, 2021

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