Latest News | DHFL Resolution: NCLAT Issues Notices to Lenders, Piramal on 63 Moons Technologies' Plea
Get latest articles and stories on Latest News at LatestLY. The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm.
New Delhi, Jul 6 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm.
A two-member bench comprising its Officiating Chairperson Justice A I S Cheema and Member Alok Srivastava issued notices to the lenders of Dewan Housing Finance Corporation Ltd (DHFL) and its successful bidder Piramal Capital & Housing Finance Ltd.
The appellate tribunal has directed all parties to file their replies before July 19, which is the next date of hearing.
Earlier on June 7, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of Piramal Capital & Housing Finance Ltd for the debt-ridden DHFL.
63 Moons, which is a debenture holder of DHFL, has filed a petition challenging the NCLT order.
It holds non-convertible debentures (NCDs) worth over Rs 200 crore issued by DHFL.
According to it, the resolution plan approved by NCLT is against the interests of the company's NCD holders.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)