Sasakawa-India Leprosy Foundation, which has over ₹8 crore stuck in fixed deposits in Dewan Housing Finance Corporation Ltd (DHFL), has filed an urgent application in the Delhi High Court.

This comes soon after the Reserve Bank of India gave its approval to the resolution plan by Piramal Group for DHFL.

The matter is listed in the Delhi High Court for Friday.

Related Stories
Leprosy Foundation moves plea against DHFL in Delhi HC
The foundation has more than ₹10 crore, which is now stuck with DHFL and as per the proposed resolution plan, it would get back only 25% of its investments
READ NOW
 

The Foundation had earlier moved a plea in the Delhi High Court in January, soon after the Committee of Creditors had approved the resolution plan by Piramal.

FD holders of DHFL have been opposing the resolution plan as many of them would get a negligible amount of their investments back. According to the plan, FD holders of up to ₹2 lakh will get their full money back. But of those above ₹2 lakh, only 25 per cent of the money due will be paid.

The Foundation had made the RBI, National Housing Bank its representatives and Indian government as parties to the affidavit. The matter would be heard next on March 5.

Meanwhile, the National Company Law Tribunal, Mumbai has clubbed all petitions pending for dues in the DHFL resolution plan and has listed it for March 15.

“All petitions have been tagged together and will be considered as objection to the resolution plan,” said Vinay Kumar Mittal, a lead petitioner in the court on behalf of FD holders of DHFL.

Three separate petitions by Mittal, Army Group Insurance Fund and Uttar Pradesh State Power Sector Employees Trust and Board of Trustees of Uttar Pradesh Power Corporation Contributory Provident Fund Trust were listed for hearing before NCLT, Mumbai on Thursday on DHFL resolution plan.

Related Topics