Township Developers India News Today

Nclt: The Piramal Group is likely to challenge the order by moving the National Company Law Appellate Tribunal (NCLAT) against this dismissal, said persons with direct knowledge of the development.

The financial creditor had filed the insolvency petition against the developer as guarantor for default in mortgage loans totalling over ₹5,855 crore. The Mumbai bench of the bankruptcy court has dismissed the petition citing technical limitations related to the timing of the application.

Mumbai police set to start criminal investigation against DHFL promoters March 14, 2021 Action follows complaint made by a depositor in Metropolitan Court Nearly a year after the DHFL fraud came to light, the Mumbai police will ‘now’ start its criminal investigations against the housing finance company (HFC) and the promoter entities linked to it. On March 6, a Mumbai Metropolitan Court at Ballard Pier area directed the Mumbai police to investigate DHFL for cheating, fraud and funds sipho...

Synopsis The company, which is undergoing a corporate debt resolution process in the National Company Law Tribunal (NCLT), is being run by an administrator in the aftermath of IL&FS crisis in 2018 and unearthing of massive fraud in the company. DHFL on Friday said its administrator has filed additional affidavits in the NCLT Mumbai in connection with fraud amounting to over Rs 1,424 crore. The company, which is undergoing a corporate debt resolution process in the National Company Law Tribunal ...