NCLT

In delivering these policies, Piramal Enterprises said: “The National Court of Justice, Mumbai Bench (NCLT), has approved the PCHFL court ruling on the DHFL CIRP. A certified copy of the law. NCLT is pending.”

MUMBAI: The National Companies Law Council (NCLT) has transformed Piramal Capital & Housing Finance Ltd into Dewan Housing Finance Corporation Ltd (DHFL).

Piramal Capital & Housing Finance Ltd is fully supported by Piramal Enterprises.

In delivering these policies, Piramal Enterprises said: “The National Court of Justice, Mumbai Bench (NCLT), has approved the PCHFL court ruling on the DHFL CIRP. A certified copy of the law. NCLT is pending.”

The commitment came after the National Corporate Court of Appeal (NCLAT) on May 25 amended the NCLT law to review the DHFL Credit Committee (CoC) for review of Kapil Wadhawan’s former work.

The Piramal team won a request from Dewan Housing Finance Corporation Ltd (DHFL) in January, but in a sad event, Number-Mumbai bank on May 19 raised the debt to DHFL members. , considering Wadhawan decision. Presents the decision of former director Kapil Wadhawan.

Wadhawan appealed to the NCLT courts, and the order has been in effect since January 15. He offered to pay 100 percent of the original amount to all lenders. In its assessment of 555 debts and eighty thousand debtors, Wadhawan promised to make a down payment of nine hundred million.

In a statement, Piramal’s team said: “We are pleased with today’s agreement with NCLT to take over our DHFL program. Following the approval of 94 percent of funders, etc., and with CCI, we are proving our strength and success. .Use. “

In recognition of this, it is one of the biggest events in IBC India, and the first of its kind in the financial sector, signaling a significant goal and change in the future.

“We look forward to working with all stakeholders, managers, debtors, and stakeholders and we hope to receive a verdict soon,” the group said.

Piramal business units collapsed after the agreement. At 2 pm, its share in the BSE was at 1996.30 Rs, higher at 71.60 or 3.72% from the previous quarter.

DHFL shares dropped and reached 10 percent seeking a hike to Rs 20.80 per share.

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