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NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the direction of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm s erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said. Meanwhile, the appellate tribunal also clarified that its order should not come in the way for NCLT to decide the approval of the plan selected by the Committee of Creditors (CoC), the lawyer added. ....
NCLAT stays NCLT order asking DHFL lenders to consider Kapil Wadhawan s offer A vacation bench of NCLAT, comprising of Acting Chairman Justice A I S Cheema and Member Technical V P Singh, stayed the order passed by NCLT. BusinessToday.In | May 25, 2021 | Updated 19:44 IST Last year, Wadhawan had made his settlement offer to the CoC which was rejected due to lack of credibility and the valuations attached to the proposed asset sales. The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed an order passed by the Mumbai bench of National Company Law Tribunal (NCLT) asking the lenders of bankrupt Dewan Housing Finance Ltd (DHFL) to consider the resolution plan of the company s former promoter Kapil Wadhawan. ....