Suraksha ARC seeks fair & unbiased process in Jaypee Infra insolvency
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Last Updated: May 19, 2021, 10:09 PM IST
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Synopsis
The company has debt obligation of over Rs 9,800 crore to creditors. Homebuyers’ claims amount to Rs 12,714 crore. The admitted financial debt out of the total claims filed by the creditors is Rs 22,613 crore. As per the Supreme Court judgment on March 24, a bidder can only offer cash or allow to enforce its existing exclusive security interest.
Suraksha Asset Reconstruction Company, one of the two bidders for Jaypee Infratech under the insolvency procedure, has called upon the troubled real estate developer’s creditors and insolvency resolution professional (IRP) to follow a “fair and unbiased process”, a day before they meet to consider the resolution proposals.
NCLT asks DHFL lenders to consider Wadhawan’s offer
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Bankers say since PCHFL’s resolution plan has been approved by majority of the lenders, it is unlikely that their decision will change.
The resolution of scam-hit DHFL has taken a new twist, with the National Company Law Tribunal (NCLT), Mumbai, asking the company’s committee of creditors (CoC) to consider former Chairman & Managing Director Kapil Wadhawan’s resolution plan within next 10 days.
This comes even as the Tribunal is weighing DHFL (Dewan Housing Finance Corporation Ltd) Administrator’s application on the resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) as approved by the CoC.
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NCLT Asks Creditors of DHFL to Consider Offer by Kapil Wadhawan
Moneylife Digital Team
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In a twist to the mess at Dewan Housing Finance Corporation Ltd (DHFL), the Mumbai bench of National Company Law Tribunal (NCLT) on Wednesday asked the committee of creditors (CoC) or lenders to consider offer made by DHFL s promoter Kapil Wadhawan, who is in jail.
The NCLT asked the CoC to convene within 10 days a meeting to consider the offer from Mr Wadhawan, and inform the bench its decision by 31st May, say media reports.
The NCLT pronounced a verbal order earlier on Wednesday, and the written copy is yet to be published. The NCLT order comes even as the same tribunal is hearing another matter involving a fraud claim against the same promoters of DHFL, filed by the Reserve Bank of India (RBI)-appointed administrator of the company, says a report from CNBCTV18 (https://www.cnbctv18.com/business/nclt-mumbai-asks-dhfl-creditors-committee-to-consider-wadhawans-offer-9353321.htm