Page 2 - Piramal Finance

Sebi slaps fine on two former DHFL promoters for flouting disclosure norms

Capital markets regulator Sebi on Monday slapped fines totalling Rs 20 lakh on two former promoters of Dewan Housing Finance Corp Ltd (DHFL) for flouting disclosure norms. Individually, the regulator levied a penalty of Rs 10 lakh each on Kapil Wadhawan and Dheeraj Wadhawan, who were promoters of DHFL (now known as Piramal Finance). The order came after Sebi conducted an investigation into the transfer of shares held by DHFL in DHFL Pramerica Life Insurance (erstwhile DLF Pramerica Life Insurance) to its wholly-owned subsidiary DHFL Investments and other related transactions. The investigation period was from February-March 2017. In its 45-page order, Sebi's Adjudicating Officer Prasanta Mahapatra said, "I find that complete and adequate information was not disclosed to the shareholders of the company as observed from the postal ballot notice and draft share purchase agreement (SPA), which was the responsibility of the noticee (Kapil Wadhawan and Dheeraj Wadhawan)". The postal bal

Our becoming bank rests on regulatory intent for NBFCs: Piramal Finance MD

In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector

Piramal Finance launches innovation lab in Bengaluru, to have 300 members

Piramal Capital & Housing Finance Ltd., (Piramal Finance), the wholly-owned subsidiary of Piramal Enterprises Ltd ('PEL'), on Thursday announced the opening of its 'Innovation Lab' at Bengaluru, where it aims to have a team of over 300 professionals for various tech and business intelligence positions by the end of financial year 2022-23. MD, Piramal Capital & Housing Finance Ltd., Jairam Sridharan said Piramal Finance is rapidly expanding its footprint in Tier II and III cities of 'Bharat' and the innovation centre here is a significant element of its growth strategy. "The financial services industry is rapidly evolving, and this initiative will accelerate the development of next-generation lending solutions and analytics that align with how consumers are reimagining the industry. Nurturing innovation is a part of our core ethos, and the centre will help us to create a vibrant ecosystem of fintechs, start-ups and tech innovators", he was quoted as saying in a company ...

Adani, KKR, Piramal among 14 prominent bidders for Reliance Capital

Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among 14 prominent firms that have expressed interest to acquire Reliance Capital Ltd, promoted by Anil Ambani Group, sources said

Piramal Enterprises Q3 profit rises 11% to Rs 888 crore

The company had posted a net profit of Rs 799 crore for the same period last fiscal year

NCLAT urges CoC rethink on Piramal ascribing Re 1 value to DHFL's bad loans

63 Moons Technologies had moved tribunal over the low valuation ascribed to assets worth Rs 40,000 cr, with DHFL lenders getting nothing if Piramal group recovered from these loans later

Three directors quit Piramal Entreprises board to aid succession planning

Keki Dadiseth, Dr. R.A. Mashelkar and Prof. Goverdhan Mehta, independent directors on the board of Piramal Enterprises have resigned, the company informed BSE

Piramal Fin to invest Rs 30 bn in affordable, mid-income housing projects

The company has identified projects in the Mumbai metropolitan region, Bengaluru and Chennai

Piramal Finance to expand in tier II cities; up biz in non-realty sectors

By 2020, Piramal Enterprises expects the loan book for the home loan business to reach Rs 150 billion

Piramal Finance launches housing finance subsidiary

Plans to achieve Rs 15,000 crore loan book by 2020

Piramal Finance sanctions Rs 400-cr in emerging, mid-market biz

The firm has provided funding to sectors as diverse as automotive dealerships, pharma, manufacturing

Piramal Finance extends Rs 700 cr credit to ACME Solar

Khushru Jijina, the MD of Piramal Finance, said that this is second round of funding to ACME group

Piramal Finance lends Rs 1,100 crore to real-estate developer Embassy Group

This has been done across residential, commercial projects in Bengaluru, Chennai and Hyderabad