DHFL shares to be delisted from exchanges as a part of decision plan

0
23

Dewan Housing Finance Company (DHFL) on Tuesday stated that the corporate’s fairness shares might be delisted from the inventory exchanges submit acquisition by Piramal Capital and Housing Finance, which has emerged because the profitable bidder for the corporate.

”As a part of the Decision Plan, the fairness shares of the Firm are proposed to be delisted,” DHFL stated in an alternate submitting. The corporate additionally notified in regards to the approval of decision plan by the NCLT.

The Nationwide Firm Regulation Tribunal (NCLT) on Monday gave its approval to Piramal Group’s bid for bankrupt-DHFL, topic to sure situations. The decision plan had already acquired approvals from the Reserve Financial institution of India (RBI) and the Competitors Fee of India (CCI).

In its order, NCLT requested DHFL’s Committee of Collectors (CoC) to think about giving more cash to small fastened deposit holders beneath the accepted decision plan.

The tribunal’s Mumbai-bench, chaired by H P Chaturvedi and Ravikumar Duraisamy, stated the approval is topic to the ultimate judgement from the Nationwide Firm Regulation Appellate Tribunal (NCLAT) and the Supreme Court docket’s judgement on Kapil Wadhawan within the matter.

NCLT additionally rejected former DHFL promoter Kapil Wadhawan’s plea to get entry to a duplicate of the decision plan.

Final month, the Nationwide Firm Regulation Appellate Tribunal (NCLAT) stayed the NCLT Mumbai bench’s order, directing the lenders of debt-ridden mortgage agency DHFL to think about the settlement provide by its erstwhile promoter Kapil Wadhawan. The appellate tribunal additionally directed the NCLT to resolve over the appliance filed by the administrator over the bid submitted by Piramal Capital and Housing Finance for the debt-ridden firm.

Subscribe to Mint Newsletters

* Enter a legitimate e mail

* Thanks for subscribing to our e-newsletter.

By no means miss a narrative! Keep related and knowledgeable with Mint.
Obtain
our App Now!!