Wadhawan bid: DHFL lenders appeal against NCLT’s order
Top Searches
Wadhawan bid: DHFL lenders appeal against NCLT’s order
TNN / Updated: May 25, 2021, 06:43 IST
FacebookTwitterLinkedinEMail
Kapil Wadhwan (File photo)
MUMBAI: The Reserve Bank of India-appointed administrator for DHFL has approached the appellate tribunal against the National Company Law Tribunal (NCLT) order on May 19 directing the committee of creditors to consider an offer made by the jailed promoter of DHFL Kapil Wadhawan.
According to banking sources, following the directions would undermine all the progress achieved towards the resolution of the case. Lenders said that there was no question of doing a one-time settlement with Wadhawan because that would involve the RBI withdrawing the case from NCLT, providing a bank guarantee for expenses incurred by administrator and 90% of the voters agreeing to a proposal that was not a valid one in the first place.