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Lenders likely to invite another round of bids for bankrupt DHFL

Piramal group did not share the password of the email containing its third round of offers as it was worried about information leak.

DHFL
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The infighting among the bidders has made bankers take legal advice on how to ring fence the entire process from any litigation in future.

Dev Chatterjee Mumbai
The lenders to bankrupt Dewan Housing Finance Corporation (DHFL) are likely to invite another round of bids and give a final opportunity to all the four bidders to make the final pitch to acquire the company. 
 
The four bidders — Oaktree, Adani, Piramal group, and SC Lowy — have submitted the third round of bids but it remained unopened as some of them had objected to the highest bid made by the Adani group in the second round, saying it cannot bid for the entire company after bidding only for wholesale book in the first round.
 
Piramal group

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First Published: Nov 25 2020 | 6:05 AM IST

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