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Published: Dec 29, 2021
Updated: Dec 29, 2021
Ajay Piramal’s acquisition of DHFL is not going as per plan. The former promoter of DHFL, Kapil Wadhawan, has moved the Supreme Court with his own offer for the company. Wadhawan is currently in jail and lawyers say the SC will reject his petition, taking into account the huge holes found in DHFL’s books. As if this is not enough, there is one more problem. 63 Moons Technologies Ltd has sought its Rs 200 crore back from the company and is not happy with the 25-35 per cent of dues offered by Piramal.
The UP government’s provident fund had also invested Rs 4,000 crore in DHFL debentures and wants its entire money back. Piramal sources say the entire transaction will now take another year to close, taking into account the fresh litigation.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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