At its meeting held on May 24, the Committee of Creditors (CoC) deferred the voting on Suraksha Group s bid. It also decided to conduct a voting process on May 27-28 to decide whether the two contenders NBCC and Suraksha should be given additional time to submit their revised and final bids.
But, this does not debar the insolvency court in Mumbai to pronounce its decision on the resolution plan submitted by the Piramal group, which was already approved by lenders and the Reserve Bank of India.
NCLAT stays NCLT order on DHFL
May 25, 2021
Committee of Creditors of DHFL, Administrator had filed separate applications challenging the NCLT order
In a relief to the ongoing resolution process of Dewan Housing Finance Corporation Ltd, the National Company Law Appellate Tribunal (NCLAT) has stayed an order by the National Company Law Tribunal (NCLT), which had directed the lenders to consider the offer made by Kapil Wadhawan.
The NCLAT heard the plea by the Committee of Creditors of DHFL challenging the May 19 order of NCLT on Tuesday.
Both the Committee of Creditors of DHFL as well as the Administrator had filed separate applications challenging the NCLT order to consider the offer made by its former promoter Kapil Wadhawan within the next 10 days.