Star Thermal promoters are natives of Tamil Nadu; they were partners in a Dubai-based $6 billion conglomerate involved in execution of various infrastructure projects, especially in power generation, transmission and distribution

Although the stock price has risen over 4.5% in the last week, it has fallen 23% in one month, 33% since the beginning of the year

In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings

The administrator of the company received an initial report from the professional agency appointed as the transaction auditor indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature, DHFL said in a regulatory filing

Debt-ridden DHFL's Committee of Creditors (CoC) had in January approved the resolution plan submitted by Piramal Capital for the company.

Crisis-ridden DHFL said during this quarter, additional transaction amounting to Rs 1,039.84 crore has been identified and reported by the company to stock exchanges and National Housing Bank (NHB)

At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue

Billionaire Ajay Piramal's Piramal Group has emerged as the preferred bidder for debt-laden mortgage lender DHFL

Dewan Housing Finance Corp share rose 4.96% to Rs 27.50 against previous close of Rs 26.20 on BSE

DHFL was the first finance company to be referred to NCLT for insolvency proceedings. Before that, the company's board was superseded and R Subramaniakumar was appointed as the administrator

Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital

Stocks to watch today on December 28: RIL, PNB, DLF, Lupin, Coal India, Vedanta among others are the top stocks to watch out for in Monday's trading session

The stock that crashed to a low of Rs 8.40 in April this year has now gained a whopping 285 per cent in just nine months to touch Rs 32 per share

Oaktree Capital and Piramal Capital & Housing Finance have emerged as top bidders in fourth round, trumping Adani Properties that entered via a lateral entry in third round. CoC will likely go with one promising higher upfront cash

All three rival bidders had cried foul over Adani's bid earlier, saying the group had submitted the bid past the deadline and sought disqualification of Adani

Private equity and stressed asset funds continue to show interest in acquiring value assets undergoing insolvency proceedings despite delays and litigation

Now, the bidders will have an option to either submit a fresh bid or continue with November 17 bid. Additionally, DHFL's creditors have also given the freedom to bid either for a portion of the loan book or for the entire portfolio

Stocks to watch today on December 3: Wipro, Trident, Airtel, M&M, Ceat, MCX, Sun Pharma among others are the top stocks to watch out for in Thursday's trading session

Adani Group said, \"It was pained at some bidders resorting to media to sensationalise issues with an aim to prevent value maximisation for the lenders and depositors\"

Why are other bidders in the race to acquire DHFL (either its retail business or the combined business) not amused with Adani Group's bid for the housing finance company?