Apollo Capital and Cerberus eyeing a stake in DHFL

Private equity firms Apollo Capital and Cerberus are competing with the Adanis for a stake in Dewan Housing Finance (DHFL), as they work out a revival package for the first financial company to be taken into bankruptcy administration. Before the beginning of the resolution process at the National Company Law Tribunal (NCLT), the company has submitted a proposal to pay off its retail depositors. The Reserve Bank of India (RBI) has decided to refer the stressed home financier to the NCLT.