Oaktree revises bid for debt-ridden DHFL
New Delhi, January 7
US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion of Rs 1,000 crore for the revival of the company.
Resolution plan
- As part of the resolution plan, Oaktree proposes to delist DHFL and invest Rs1,000 crore into the company by way of equity or debt
DHFL was the first finance company to be referred to the NCLT by the RBI using special powers under Section 227 of the IBC
According to sources, Oaktree in a letter dated January 6 to members of the Committee of Creditors (CoC) and administrator of DHFL said the resolution plan offers a clean structure for all stakeholders.
“During our discussion with the legal counsel of the Administrator and the CoC, we were informed that we could not impose any conditions to the implementation of our resolution plan in any manner. As a result, all terms of our resolution plan that could be considered as conditions were deleted,” it said.
Revised bids for DHFL were received last month with Oaktree and Piramal Enterprises jostling for the top spot.
According to the sources, suitors have submitted bids in the range of Rs 35,000-37,000 crore. — PTI
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