Amid Multiple Twists In DHFL Saga, Big Haircuts Are Set to Hit Its Lenders

It has almost been a year since troubled Dewan Housing Finance Corp. Ltd (DHFL) was thrust into insolvency proceedings—the first financial firm to be under the code, Mint reported. The committee of creditors has held 11 meetings so far and a 12th was on at the time of writing this piece. The latest meeting comes in the wake of a surprise bid for DHFL. An Adani Group company now wants to buy DHFL lock, stock and barrel for an amount higher than the highest bid of ₹31,000 crore made by Oaktree Capital so far, according to a Mint report. The company, which originally wanted to buy just the wholesale loan book of DHFL for about ₹3,000 crore, submitted its revised bid after the deadline was over. Read more