NCLT approves Piramal Group’s offer for DHFL on certain conditions

The tribunal’s Mumbai-bench, chaired by HP Chaturvedi and Ravikumar Duraisamy, said the approval is subject to the final judgement from the National Company Law Appellate Tribunal and the Supreme Court’s judgement on Kapil Wadhawan in the matter.

In its order, NCLT asked DHFL’s (Dewan Housing Finance Corp Ltd) Committee of Creditors to consider giving more money to small fixed deposit holders under the approved resolution plan.

“We are not remanding the plan back to CoC, we respect their commercial wisdom,” it said.

NCLT also rejected former DHFL promoter Kapil Wadhawan’s plea to get access to a copy of the resolution plan.