DHFL resolution process in the last lap

The resolution of debt ridden Dewan Housing Finance Corporation Ltd (DHFL) now seems to be in its final stages with lenders having initiated the voting process. Oaktree Capital, Piramal Capital and Housing Finance Ltd with bids in the range of ₹38,000 crore are being seen as the front runners and are engaged in neck-and-neck competition.

Others in the fray include the Adani Group and SC Lowy. A new owner is likely to be announced towards the end of this month. The voting process is expected to be completed by January 14. Bankers expect the proceeds of DHFL resolution to boost their fourth quarter results to an extent as some of the bidders have offered upfront cash. The claims of lenders that have been admitted in the NCLT in the case of DHFL aggregate to about ₹87,000 crore.

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