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.

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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