With this present, Oaktree Capital claimed its total bid for DHFL was at Rs 38,400 crore. It also mentioned its present for DHFL was Rs 1,150 crore more than Piramal’s bid. Similarly, on a net present worth (NPV) basis, Oaktree claimed its present to be larger by Rs 1,501 crore than the rival bidder. Oaktree Capital, PCHFL and Adani Properties had earlier submitted bids in the most recent round for the whole book of DHFL.
Oaktree Capital also mentioned it had addressed issues raised by lenders in its most recent resolution program submitted on December 22. It clarified that Oaktree’s bid is entirely unconditional, barring National Company Law Tribunal (NCLT) and regulatory approvals, mentioned media reports.
Similarly, incremental quantity of Rs 300 crore has been supplied to fixed deposit (FD) holders as a ‘goodwill gesture’.
Ajay Piramal, chairman, Piramal Enterprises, had earlier written a letter to DHFL administrator highlighting constraints in the takeover of DHFL’s insurance coverage business enterprise by Oaktree.
DHFL is undergoing insolvency proceedings at the NCLT Mumbai considering that December 3. The admitted claims of the troubled lender stood at Rs 87,120 crore as on September 10,2020. State Bank of India is the lead creditor with claims of Rs 10,083 crore.