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Trading in DHFL shares suspended by BSE and NSE
IANS
14 June 2021
The development follows the approval of the resolution plan of Piramal Capital & Housing Finance Ltd to acquire the bankrupt company.
Delisting of the shares has been done as part of the resolution plan of the Piramal Enterprises subsidiary.
In pursuance of Regulation 3.1.2 of the National Stock Exchange (Capital Market) Trading Regulations Part A, and for reasons mentioned above it is hereby notified that the following security will be suspended from trading w.e.f. June 14, 2021 (i.e. closing hours of trading on 11 June 2021), said an NSE circular.
It noted that the company through announcement dated June 9, 2021, stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
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BSE, NSE suspend trading in DHFL shares
Leading exchanges BSE and NSE will suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) with effect from Monday.
The move, aimed at avoiding market complications , comes against the backdrop of the National Company Law Tribunal (NCLT) approving Piramal Group s resolution plan for the bankrupt-DHFL. The resolution plan under the Insolvency and Bankruptcy Code (IBC) was approved by the tribunal on June 7.
In separate but similarly-worded circulars issued on Friday, BSE and NSE said they would suspend trading in the shares of DHFL with effect from June 14.
The approved resolution plan provides for delisting of equity shares of the company.
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