NEW DELHI, Jan 30: The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the Mumbai bench of the NCLT, which had directed the administrator of the debt-ridden DHFL to put the second settlement proposal by erstwhile promoter Kapil Wadhwan before its lenders for consideration. The appellate tribunal observed that NCLT has passed directions to consider the second proposal from Wadhwan, despite the fact that the Committee of Creditors (CoC) of DHFL had already by an […]
The Piramal Group said on Friday that it is considering moving the Supreme Court to appeal against an NCLAT order which has asked DHFL lenders to reconsider Piramal ascribing a value of Re 1 to Rs 45,000 crore of bad loans."We have .
Under the insolvency resolution proceedings for DHFL, Piramal Capital had emerged as the winning bidder and the Committee of Creditors (CoC) had ascribed a value of just Re 1 for Rs 45,000 crore-worth recoverable assets of DHFL.
The NCLAT on Thursday had directed DHFL lenders to reconsider their decision regarding the valuation of the financial firm's avoidable transactions while approving the insolvency resolution plan.