Dewan Housing Finance Corporation (DHFL) has received Competition Commission of India’s (CCI) approval for proposed merger of its two arms -- DHFL Holdings (DHPL) and First Blue Home Finance -- with the parent company.
In an order dated December 13, CCI noted that DHPL and First Blue are subsidiaries and the control over the activities carried on by First Blue and DHPL, before the combination, is with DHFL and will continue to remain with DHFL after the proposed combination.
DHFL and First Blue Home Finance are engaged in business of housing finance while, DHPL is an investment firm. DHFL indirectly holds 67.56% in First Blue through its wholly-owned subsidiary DHPL.
