Page 2 - Dhfl

Lenders await fate of Piramal, 63 Moons Tech litigation in top court

Piramal had appealed against the National Company Law Appellate Tribunal (NCLAT) order directing DHFL's lenders to reconsider their decision on the valuation of the financial firm's fraud accounts

9 real estate firms under CBI scanner for diversion of Rs 14k-cr DHFL funds

Union Bank has alleged that Amaryllis Realtors, Gulmarg Realtors and Skylark Buildcon owe Rs 98.33 crore, and Darshan Developers and Sigtia Constructions owe Rs 3,970 crore as outstanding towards DHFL

CBI books DHFL in 'biggest' banking fraud of Rs 34,615 crore; 17 banks hit

The audit of DHFL account books showed that the company allegedly committed financial irregularities, diverted funds, round tripped funds to 'create assets for Kapil and Dheeraj Wadhawan'

EOW books builder Sanjay Chhabria, DHFL promoter Kapil Wadhwan for fraud

EOW of Mumbai police registered a fresh case against builder Sanjay Chhabria and DHFL promoter Kapil Wadhwan for allegedly cheating a real estate firm to the tune of Rs 150 crore

CBI arrests ABIL group chairman Avinash Bhosale in Yes Bank-DHFL scam case

The CBI suspects that illicit funds were routed through several real estate companies based in Maharashtra, officials said.

Delhi court grants bail to Wadhwan brothers, ex-promotors of DHFL, in scam

A Delhi court has granted bail to Dheeraj Rajesh Wadhawan and Kapil Rajesh Wadhawan, ex-promoters of Dewan Housing Finance Corporation Ltd (DHFL) in the alleged multi crore scam case.The Additional Sessions Judge Reetesh Singh while granting bail on Friday (May 13) said, "in the present case as well, the applicant/accused persons- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan were not arrested during the investigation. A supplementary chargesheet was filed against them without arrest. Investigation Officer (IO) in his reply to the bail applications has stated that there is no requirement of custody".Court noted that the said case pertains to FIR registered under sections 420, 406, 409, 120-B of the Indian Penal Code (IPC), wherein the allegations were made against the accused Dheeraj Rajesh Wadhawan and Kapil Rajesh Wadhawan were the directors of DHFL during that time and had sanctioned loan to M/s Shubhkamna Buildtech Pvt. Ltd., and entered into a tripartite agreement with the ...

CBI arrests realtor Sanjay Chhabria in YES Bank-DHFL corruption case

Chhabria of Radius Developers will be produced before a special court on Friday, they said

Yes Bank's Rank Kapoor, DHFL's Wadhwans siphoned off Rs 5,050 cr: ED

ED has alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Limited promoters Kapil and Dheeraj Wadhawan siphoned off funds worth Rs 5,050 crore through suspicious transactions

Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world

Biden administration reaffirms its commitment to support India's permanent membership.

SC stays NCLAT order in DHFL case on Piramal's appeal

NCLAT in January this year had directed the lenders of Dewan Housing Finance Corporation to reconsider their decision regarding the valuation of the financial firm's avoidable transactions

DHFL case: SC stays NCLAT order; to hear appeals of Piramal, banks in May

It may be pointed out that in its resolution plan, Piramal had ascribed Re 1 value against Rs 40,000 crore assets that have been fraudulently diverted by erstwhile promoters of DHFL

Piramal Capital ties up with IMGC to offer home loans of Rs 5 lakh-75 lakh

Piramal Capital & Housing Finance Ltd (PCHFL) has partnered with India Mortgage Guarantee Corporation to offer home loans ranging from Rs 5-75 lakh to salaried and non-salaried customers. Under this arrangement, India Mortgage Guarantee Corporation (IMGC) will provide guarantee on a part of the loan so that it is secured in case of a default. The housing finance company aims to generate 10-12 per cent of its business from this partnership by the end of FY23, PCHFL said in a statement on Wednesday. The product 'Gruh Setu Home Loan' aims to cater to the aspirational needs of salaried and self-employed customers across geographies. It is designed to extend loans to individuals who receive salary by bank or cash, pensioners, employees of proprietorships and partnership firms. It will also cater to self-employed professionals like doctors or architects, small business owners, proprietors and partners of partnership firms. PCHFL, the wholly-owned subsidiary of Piramal Enterprises, said

DHFL Case: CoC members nix recovery of Rs 40k cr, want Re 1 ascribed value

Some secured creditors of DHFL have filed a petition in SC against NCLAT order, which gives them more money than what they had bargained for.

DHFL: NCLAT sets aside order that directed to consider Wadhwan's 2nd offer

The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the Mumbai bench of the NCLT, which had directed the administrator of the debt-ridden DHFL to put the second settlement proposal by erstwhile promoter Kapil Wadhwan before its lenders for consideration. The appellate tribunal observed that NCLT has passed directions to consider the second proposal from Wadhwan, despite the fact that the Committee of Creditors (CoC) of DHFL had already by an overwhelming majority approved the Piramal Capital & Housing Finance's resolution plan and the administrator had applied before it for its approval. Citing a recent judgement passed by the Supreme Court in the case of Ebix Singapore, the NCLAT said "there was no scope for negotiations between the parties once the CoC has approved the resolution plan". "The said exercise was beyond the jurisdiction of the adjudicating authority (NCLT), hence unsustainable and liable to be set aside," said a three-member NCLAT ..

NCLAT urges CoC rethink on Piramal ascribing Re 1 value to DHFL's bad loans

63 Moons Technologies had moved tribunal over the low valuation ascribed to assets worth Rs 40,000 cr, with DHFL lenders getting nothing if Piramal group recovered from these loans later

NCLAT asks CoC to consider 63 moons' plea in DHFL Resolution Plan

The NCLAT on Thursday ordered the petition to be considered by the Committee of Creditors (CoC).

Post DHFL acquisition, Piramal Capital to open 100 branches

Having access to over 10 lakh customers post acquisition of DHFL last year, Piramal Capital & Housing Finance (PCHFL) plans to open 100 branches and expand to 1,000 more cities in coming years. In September 2021, PCHFL completed acquisition of debt-laden Dewan Housing Finance Ltd (DHFL), thereby creating one of the largest housing finance companies in the country. PCHFL has now access to over 1 million (10 lakh) customers across 24 states with a network of 301 branches, PCHFL said in a release on Tuesday. To address diverse financing needs of the under-served 'Bharat' market, the company plans to expand its operations to about 1,000 cities in the next three years, with physical presence in about 500-600 cities. In the next 12 months, it expects to open another 100 branches, the company said. "We have integrated the two organisations to create one consolidated firm. There has been no attrition among employees of the erstwhile lender, and we have been able to finalise roles for ...

DHFL case: Yes Bank's former business head Rajiv Anand gets bail

A special CBI court here on Thursday granted bail to Rajiv Anand, a former business head of Yes Bank, in a cheating and corruption case involving the private sector lender DHFL.

Bombay High Court discharges DHFL in cheating, corruption case filed by CBI

Bombay High Court discharged DHFL and dropped the proceedings against it in a case of cheating and corruption against its former directors Kapil and Dhiraj Wadhawan, and Yes Bank founder Rana Kapoor

Sebi confirms directions passed against 12 promoters of DHFL

Markets regulator Sebi on Friday confirmed the directions passed against twelve promoters of DHFL which barred them from accessing securities market. A detailed investigation in the matter is pending. The promoters are -- Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Kumar Wadhawan, Sarang Wadhawan, Aruna Wadhawan, Malti Wadhawan, Anu S Wadhawan, Pooja D Wadhawan, Wadhawan Holding Pvt Ltd, Wadhawan Consolidated Holding Pvt Ltd, Wadhawan Retail Venture Pvt Ltd and Wadhawan Global Capital Ltd (formerly known as Wadhawan Housing Pvt Ltd). In an interim order passed in September 2020, Sebi had restrained them from accessing securities market and had also barred them from associating themselves as directors or promoters of any listed public company or associating with any intermediary registered with Sebi. The order had been passed after a transaction auditor raised serious concerns over authenticity and reliability of DHFL's financial statements for the period of financial years 2007-2019.