Talks about resolution to DHFL debacle are heating up. Last week, 4 bidders submitted their bids to acquire the NBFC which went bad in June 2019. Reserve Bank of India referred it to NCLT in November 2019. At that time, DHFL was the third largest pure mortgage lender in India.
As of today, the claims on DHFL amount to Rs 94,900/- crores. The lenders include SBI (Rs 10,000 crores), LIC & EPFO (another Rs 10,000 Crores) and also include other banks, National Housing Board, Mutual Funds, and bond holders.
According to a filing last month, fraudulent transactions worth ₹17,394 crore were reported at DHFL during FY07 to FY19, as per a report of transaction auditor Grant Thornton.
The bidders are:
- Oaktree (USA): Rs 20,000 Crores with Rs 10,000 Crores as cash in hand.
- Adani Group : Rs 40,000 Crores (for whole sale business)
- Piramal Group : Rs 12,000 Crores (for retail portfolio)
- SC Lowy: comes with many conditions and may not be considered for bidding.
In the meanwhile, just a day back. Kapil Wadhawan (promoter DHFL), who was earlier arrested, has offered to settle all claims and loans of his NBFC. According to sources, he has offered his family assets worth Rs 43,000 crores to fill the deficit, and pay off the lenders.