The Administrator and lenders to troubled Dewan Housing Finance Corporation Ltd (DHFL) have filed two applications in the National Company Law Appellate Tribunal (NCLAT).
These have been filed challenging the National Company Law Tribunal order which directed DHFL’s Committee of Creditors to consider the offer made by its former promoter Kapil Wadhawan within the next 10 days.
Sources said that there are concerns that such a move will derail the resolution process of DHFL and could also set a bad precedent.
In his second settlement offer, Wadhawan had offered ₹91,158 crore, which is over ₹50,000 crore more than the ₹34,250 crore being offered by Piramal Enterprises Ltd.
The CoC, led by Union Bank of India, in its application has asked that the May 19 order of the NCLT should be set aside. Further the NCLT should also clear the resolution plan for DHFL.
DHFL Administrator R Subramaniakumar filed his application challenging the NCLT order on May 23.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.