CURRENT AFFAIRS

2021

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which company got the Competition Commission of India nod to acquire DHFL?
A
Fairfax Holdings
B
Adani Enterprises
C
Piramal Enterprises
D
SBI Capital
Explanation: 

Detailed explanation-1: -The Piramal Group has offered ₹37, 250 crore to DHFL’s creditors.

Detailed explanation-2: -RBI approves DHFL’s takeover by Piramal Group.

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: -The correct answer is Piramal Group. Piramal Group has completed the acquisition of housing finance firm Dewan Housing Finance Corporation (DHFL) and a total consideration of ₹34, 250 crores has been paid for the same. As a part of the process, Piramal Capital and Housing Finance Ltd (PCHFL) will merge with DHFL.

Detailed explanation-5: -Lenders led by State Bank of India will recover around 43% of their claims, while fixed depositors will recover 23% of their claims, the people said. In a statement to exchanges, Piramal Group said that it has paid a total consideration of Rs 34, 250 crore to creditors as part of the DHFL transaction.

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