Explanation:

• The Reserve Bank of India has approved the takeover of Dewan Housing Finance Corporation Ltd (DHFL) by Piramal Group .
• The decision was taken by RBI after a month a Committee of Creditors of DHFL voted in favor of Piramal’s bid.
• Now, the Piramal Group will require to take permission of National Company Law Tribunal (NCLT) to take over the DHFL.
• Apart from the Piramal Group, another major contender for the debt-ridden NBFC was US-based Oaktree Capital.