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SC Lowy looks to pull out from DHFL bidding process

Nov 27, 2020 - The Economic Times

Mumbai: Efforts to win over irate bidders of troubled mortgage lender Dewan Housing Finance Corp (DHFL) by calling for fresh bids under revised terms have not helped soothe nerves as global investors are threatening to walk out of the process citing lack of transparency and nepotism, multiple people aware of the discussions said. On Wednesday, Hong Kong-based SC Lowy informed the committee of creditors and the RBI-appointed administrator of DHFL that it would not pursue the transaction and sough...