Emails sent to Adani group, Piramal and State Bank India, one of the lenders to DHFL, did not elicit any response. In its revised offer, Adani has suggested a bid price that is ₹250 crore higher than rival Oaktree’s bid. In a letter to the lenders, Piramal said that such a move is not in accordance with the provision of the insolvency laws. Following the CoC meeting held on Thursday, Adani also sent a revised bid for DHFL’s wholesale and slum rehabilitation (SRA) book. Piramal has revised its bid price for the retail portfolio to ₹26,000 crore from ₹15,000 crore.

Source: Mint November 16, 2020 00:11 UTC