Piramal, DHFL merger: The road ahead remains bumpy due to legal hurdles

Even as Piramal Enterprises is all set to merge its latest acquisition, Dewan Housing Finance Corporation (DHFL), with its own financial services business, its fight to buy the bankrupt company is far from over. The acquisition, awaiting the market regulator’s clearance, will create a financial services giant with total assets of Rs 1.27 trillion and revenues of  Rs 16,000 crore (see chart). The acquisition has already received the green signal from the Reserve Bank of India, the Competition Commission of India and the National Company Law Tribunal (NCLT). But legal expe.....

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