Interesting to know that Piramal is hiring top tech talent from Amazon apart from few other Axis bank executives (TV interview above time 4:52) for its retail finance arm.
Is the DHFL integration complete?
Any notes from AGM ?
the integration will be completed by the end of this quarter, according to Ajay Piramal. he sounded confident about demerging Pharma from the finance business as soon as the acquisition of DHFL is completed. Otherwise there is nothing new to add other than what has been said by management in concalls.
Chairmanâs speech delivered at the 74th Annual General Meeting of the Company held on 16th July, 2021.
does that means that resolution cannot happen before that?
Unfortunately yesâŚThese legal cases will only delay the inevitableâŚnot sure what is achieved by the court by keep pushing out the final decision. NCD/FD holders need to go after Wadhwanâs who have defrauded the company and not after new owners⌠
They cant even go against Wadhawans as any recovery is set to go the new owners right ?
Donât think so, they would have âStayedâ the entire transaction until the hearing is finished. So it means Resolution will continue also the September hearing would be the last & final hearing âŚas mentioned in the article.
I believe it is favourable for PEL, as the resolution steps continues without any adverse interim order.
AGM is doneâŚanyone know when will the dividend be credited ? I hope is it 33 rs
Already credited to my bank account the day before yesterday.
Related case for DHFL
Essar Steel case: The Supreme Court cleared ArcelorMittalâs takeover of Essar Steel. The judgement is key because it is likely to help facilitate the biggest takeover of bad debts in Indian corporate history. It also ruled that the Committee of Creditors will have the final say in the resolution plans under the Insolvency and Bankruptcy Code (IBC) and that the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) cannot interfere with CoCâs commercial decisions.**
This case could be precedent for PEL-DHFL Case and could augur well to expediate the litigation
Good Precedent set up by supreme court , else resolution of cases will take years even for cases cleared under IBC
NCDâs delisted and payments being released
Any one received the NCD amount, please update here and % recovery.
I havenât got anything yet and didnât receive the message from DHFL enquiring Account details.