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Kapil Wadhawan, erstwhile promoter of Dewan Housing Finance Limited (DHFL), has moved Supreme Court against the order of the National Company Law Appellate Tribunal (NCLAT), staying the ruling of the bankruptcy tribunal (NCLT) asking banks to consider his offer. The lenders and the RBI-appointed administrator of DHFL had moved the NCLAT, challenging the order passed by the tribunal, saying there was no basis in law for such an order or the NCLT could not direct the committee of creditors (CoC) to consider a plan. In a letter to the administrator in December, Wadhawan had reiterated his off...

DHFL had gone bankrupt with more than Rs 90,000 crore in debt to various lenders, including banks, mutual funds and individual investors who kept fixed deposits with the company. (Representative image) NEW DELHI: The committee of creditors of DHFL has challenged the National Company Law Tribunal (NCLT) order directing the lenders to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. An appeal challenging NCLT Mumbai bench's order has been filed before the National Company Law Appellate Tribunal (NCLAT) and is scheduled for hearing on Tuesday. The matter...

Piramal wins race to acquire DHFL January 15, 2021 File Photo of Ajay Piramal, Chairman, Piramal Group.   -  BusinessLine× RELATED Debt resolution proposal got 94% of lenders’ votes After multiple rounds of bidding and counter bids, Piramal Capital and Housing Finance Ltd has won the race to acquire Dewan Housing Finance Corporation Ltd. The voting by the Committee of Creditors ended today. The debt resolution proposal submitted by Piramal received 94 per cent of the lenders’ votes, according to banking industry sources. The proposal submitted by Oaktree Capital is understood to have ...