Piramal Group discharges the creditors of DHFL

|MINT|

Piramal Group on Wednesday announced that it has completed the acquisition of housing finance firm Dewan Housing Finance Corporation (DHFL) and a total consideration of ₹34,250 crore has been paid for the same. As a part of the process, Piramal Capital and Housing Finance Ltd (PCHFL) will merge with DHFL. The group in a statement informed that most of the DHFL creditors are recovering nearly 46% via the resolution. The creditors of DHFL (including FD holders) would recover an aggregate amount of around ₹38,000 crore from the resolution process of DHFL.

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