New Delhi, Dec. 4 -- Lenders to Dewan Housing Finance Corp. Ltd (DHFL) have extended the deadline for bidders to submit revised resolution plans, betting that a potential bidding war among the suitors will help banks extract more value from the assets of the bankrupt home financier.

The decision to seek revised bids till 10 December was taken after Adani Group made a higher unsolicited bid for the entire portfolio.

In the voting on Wednesday, 25 November, the lenders allowed all four suitors to submit revised bids for a part or entire portfolio of the mortgage lender. The committee of creditors (CoC) had taken the legal opinion of former attorney general Mukul Rohtagi in the matter.

"Existing PRAs (prospective resolution applicants) may ...