Photo: Deccan Herald
DHFL Creditors Approve Resolution Plan Submitted By Piramal Capital
The resolution plan submitted by Parimal Capital and Housing Finance Limited under the Insolvency and Bankruptcy Code has been approved by the creditors of the Dewan Housing Finance Corporation Limited (DHFL). Reportedly, Parimal's bid received 94% votes, leaving behind the other bidder Oaktree Capital that could manage only 45% votes. While shares of DHFL went bullish after the announcement, the stocks of Piramal Capital witnessed a fall.
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