NCLAT issues notices to CoC, DHFL and Piramal on 63 moons plea
The National Company Law Appellate Tribunal (NCLAT) has issued notices to the committee of creditors (CoC), the administrator of DHFL and Piramal Capital and Housing Finance Ltd on a plea by 63 moons technologies against the Dewan Housing Finance Ltd (DHFL) resolution plan approved by National Company Law Tribunal
The National Company Law Appellate Tribunal (NCLAT) has issued notices to the committee of creditors (CoC), the administrator of DHFL and Piramal Capital and Housing Finance Ltd on a plea by 63 moons technologies against the Dewan Housing Finance Ltd (DHFL) resolution plan approved by National Company Law Tribunal.
The NCLAT agreed to hear the petition by 63 moons technologies, challenging the NCLT's nod for Piramal's resolution plan.
See Zee Business Live TV Streaming Below:
Seeking interim protection from NCLAT, in its plea, 63 moons said the resolution plan execution is subject to the NCLAT nod.
However, the NCLAT has refused to stay the resolution plan approved by NCLT last month.
It must be noted that 63 moons technologies, which holds over Rs 200 crore of non-convertible debentures (NCDs) of DHFL, has described the current resolution plan as disappointing for NCD holders.
The Mumbai bench of NCLT has approved the Piramal Group's resolution plan for DHFL subject to the outcome of the appeal in the NCLAT and the Supreme Court.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.