Synopsis Piramal Group, which was the successful bidder to own the indebted home financier is contemplating a legal action against the NCLT’s order that sought consideration of a settlement proposal by Kapil Wadhawan. Lenders felt the erstwhile promoter never participated in the process and only came up with porous proposals via a letter, sent well beyond the stipulated period of bidding process. The settlement proposal by Wadhawan, according to bankers, comes “with numerous caveats and assumptions which makes it an uncertain bid for the CoC to accept”. DHFL) Monday filed two separate applications at the National Company Law Appellate Tribunal (NCLAT) challenging Mumbai NCLT’s order that sought consideration of a settlement proposal by Kapil Wadhawan, a businessman under investigation for misdeeds.