The race for DHFL is now down effectively to 2 bidders - Piramal Group and Oaktree Capital. The Creditors of Company (CoC) are set to meet today (December 18) to evaluate the bids with voting expected to begin next week.
All suitors will make presentations to the CoC today while SBI Capital will make present evaluation matrix to the committee today.
Piramal is likely to have an edge over Oaktree Capital because it offers a higher cash up front and also it is easier to take over being an Indian entity.
However, Oaktree Capital has been looking at ways to make its offer more attractive. They have offered to drop some of the conditions that were seen as hindrances.
According to sources, Oaktree Capital was mulling legal action against CoC for alleged discriminatory treatment. However, so far they have not taken any concrete action.For more details, watch video.