FOR AJAY G. PIRAMAL, the 65-year-old billionaire owner of Piramal Capital and Housing Finance Company (PCHFL), the battle is only half won. The long-drawn bidding for troubled home lender DHFL is nearly over, and Piramal’s resolution plan has been officially chosen as the best among the three—the others being the U.S.-based Oaktree Capital, and the Adani Group. But Piramal may have to wait a little longer for all the approvals to come and litigation, if any, be completed. Lenders and their consultants suspect that Oaktree and the big fixed-deposit holders may drag the issue to court. Even so, it’s not as if there are many slips between the cup and the lip.
“We are not desperate in our attempt,” Piramal had told Fortune India in December soon after he wrote a letter to the Reserve Bank of India-appointed administrator of DHFL and sweetened the deal, making a strong case for his resolution plan.
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COMMUNITY, CONTENT, AND COMMERCE
FACEBOOK EARNED ITS CHOPS BY CONNECTING PEOPLE, SOMETHING THAT ONCE AGAIN CAME TO THE FORE DURING THE PANDEMIC. ITS NEXT BIG BETS ARE ON CONTENT CREATORS AND SMALL BUSINESSES. AIDING IT IN THIS MISSION ARE INSTAGRAM AND WHATSAPP.
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Exiting the Terminal
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The Art of Building a Sports Car Portfolio
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The Conversation - AKSHAY NAHETA
U.A.E.-based Akshay Naheta, 39, is the youngest executive 1 to report directly to SoftBank Group founder Masayoshi Son (“Masa”). As CEO of SB Management and senior vice president, investments, SoftBank, he leads the conglomerate’s investments into publicly traded stocks and other securities. Naheta, an equestrian buff, 2 decodes his stint at the investment giant.
THE DOCTOR COMES CALLING
WITH MANIPAL HOSPITALS WRAPPING UP A DEAL TO BUY COLUMBIA ASIA HOSPITALS, RANJAN PAI HAS CHALKED OFF A MAJOR ITEM ON HIS BUCKET LIST: BUILDING A PAN-INDIA HOSPITAL CHAIN. BUT THE SAVVY ENTREPRENEUR IS FAR FROM DONE AND IS GUNNING FOR THE NO.1 POSITION.
THE SOUND OF STREAMING
Two years after its entry into the Indian market, streaming giant Spotify is already among the top three players in the growing audio OTT industry. Key to its success has been its localisation and diversified offer strategy.
BHARAT BIOTECH HAS BEEN AT THE FOREFRONT OF MAKING VACCINES FOR SWINE FLU, POLIO, AND OTHER VIRAL DISEASES FOR A QUARTER OF A CENTURY. YET IT TOOK A GLOBAL PANDEMIC FOR THE SPOTLIGHT TO SHINE ON THE COMPANY CO-FOUNDED BY KRISHNA M. ELLA AND HIS WIFE SUCHITRA M. ELLA.
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Investing In Target-Date Debt Funds
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Brand familiarity and better relations with bankers and stakeholders tilted the balance in favour of Ajay Piramal, and against Oaktree Capital
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डीएचएफएल पर फंसेगा कानूनी पेच!
• ओकट्री के अनुसार कर्जदाता उसके 2,700 करोड़ अधिक रकम वाले प्रस्ताव पर नहीं कर रहे विचार • कंपनी के अनुसार उचित बाजार मूल्य के लिहाज से उसका प्रस्ताव 4,500 करोड़ रुपये अधिक है • डीएचएफएल के बीमा उद्यम में ओकट्री को नहीं मिलेगी हिस्सेदारी लेने की अनुमति
Hungry For Stressed Assets
Private equity and stressed asset funds continue to show interest in acquiring value assets undergoing insolvency proceedings despite delays and litigation
PROCEEDINGS AGAINST PERSONAL GUARANTORS IN NCLT CURRENT SITUATION
Presently, the simultaneous commencement of insolvency proceedings by the lender against the corporate debtor and the corporate guarantor(s) faces a roadblock on account of the NCLAT order in the matter of Dr. Vishnu Kumar Agarwal v. Piramal Enterprises Limited (“Piramal matter”)
डीएचएफएल की रिटेल बुक के लिए पीरामल ने प्रस्ताव में किया बदलाव
पिछले शुक्रवार को पीरामल समूह ने अदार्ण के संशोधित प्रस्ताव के संबंध में आपत्ति जताते हुए डीएचएफएल की सीओसी को पत्र भेजा था।
डीएचएफएल पर पीरामल-अदाणी में रार
संकट ग्रस्त दीवान हाउसिंग फाइनेंस (डीएचएफएल) के संपूर्ण अधिग्रहण के लिए अंतिम समय में अदाणी समूह द्वारा बोली लगाए जाने से पीरामल समूह नाराज हो गया है। उसने चेतावनी दी है कि अगर अदाणी की बोली को स्वीकार किया जाता है तो वह अधिग्रहण की दौड़ से बाहर निकल जाएगा।
मौजूदा पेशकश से बैंक नाखुश
आकर्षक बोली चाहते हैं डीएचएफएल के ऋणदाता, मौजूदा बोलीदाताओं को देंगे मौका