Money & Bankin

Lenders likely to move NCLAT over DHFL

Our Burea Mumbai | Updated on May 24, 2021

Move comes after NCLT asked DHFL’s CoC to consider the ₹91,158 crore offer made by its former promoter Kapil Wadhawan

Lenders to troubled Dewan Housing Finance Corporation Ltd (DHFL) are looking at various options and are expected to file an appeal with the National Company Law Appellate Tribunal (NCLAT) on Monday.

The move comes after the National Company Law Tribunal asked DHFL’s Committee of Creditors to consider the offer made by its former promoter Kapil Wadhawan within the next 10 days. In his second settlement offer, Wadhawan had offered ₹91,158 crore, which is over ₹50,000 crore more than the ₹34,250 crore is being offered by Piramal Enterprises.

Also read: Allowing Wadhawan to present settlement offer could derail DHFL resolution process: RBI

The Reserve Bank of India in its affidavit to the NCLT had said that permitting Wadhawan to make an offer for DHFL could derail the company’s resolution process. Bankers too are not in favour of such a move and have been left worried by the NCLT decision.

Published on May 24, 2021

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Dewan Housing Finance Corporation Ltd
NCLA
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