Oaktree Capital Management, L.P. has said its revised bid for the debt-ridden Dewan Housing Finance Corporation Limited (NSEI:DHFL) is unconditional and comes with a commitment of fresh capital infusion of INR 10 billion for the revival of the company. According to sources, Oaktree in a letter dated January 6, 2021 to members of the Committee of Creditors (CoC) and administrator of DHFL said the resolution plan offers a clean structure for all stakeholders. "During our discussion with the legal counsel of the Administrator and the CoC, we were informed that we could not impose any conditions to the implementation of our resolution plan in any manner. As a result, all terms of our resolution plan that could be considered as conditions were deleted," it said. Revised bids for DHFL were received in December 2020 with Oaktree and Piramal Enterprises jostling for the top spot. According to the sources, suitors have submitted bids in the range of INR 350-370 billion. Contrary reports have emerged about who has bid more and Oaktree's January 6, 2020 letter to the CoC is seen as an attempt to clear the air around its bid and claim the highest bidder spot. Sources said Oaktree has presented a legally viable structure in respect of DHFL Insurance Limited's holding in Pramerica Life Insurance but it remains open to explore any other solution to the satisfaction of the CoC. "By contrast, we note that the second highest bidder's bid (Piramal Enterprises) is conditional.," the letter said. Based on a fair market valuation, sources said the difference between Oaktree's offer and the second highest bid is around INR 45.3 billion. As part of the resolution plan, Oaktree proposes to delist DHFL and invest INR 10 billion into the company by way of equity or debt, sources said.