CURRENT AFFAIRS

Detailed explanation-1: -Q. Piramal Capital & Housing Finance Limited has recently reverse merged with which debt-ridden company? Notes: Piramal Capital & Housing Finance Limited, a subsidiary of Piramal Enterprises has reverse merged itself with the debt-ridden Dewan Housing Finance Limited (DHFL) after paying a sum of Rs.

Detailed explanation-2: -In September 2021, PCHFL completed acquisition of debt-laden Dewan Housing Finance Ltd (DHFL), thereby creating one of the largest housing finance companies in the country. PCHFL has now access to over 1 million (10 lakh) customers across 24 states with a network of 301 branches, PCHFL said in a release on Tuesday.

Detailed explanation-3: -DHFL, with outstanding debt of over Rs 90, 000 crore, was acquired by the Piramal group for Rs37, 250 crore.

Detailed explanation-4: -(Piramal Finance), wholly owned subsidiary of Piramal Enterprises Limited (the flagship company of Piramal Group), is registered as a housing finance company with National Housing Bank (NHB) and engaged in various financial services businesses. It provides both wholesale and retail funding opportunities across sectors.

Detailed explanation-5: -From 14th June 2021, the investors are not able to trade in DHFL’s shares on BSE & NSE. The Bombay Stock Exchange & National Stock Exchange suspended trading of DHFL Shares.