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SC Sets Aside NCLAT Order in DHFL Case

Hindustan Times Delhi

|

April 02, 2025

The Supreme Court on Tuesday set aside the National Company Law Appellate Tribunal's (NCLAT) order that had directed the lenders of the former Dewan Housing Finance (DHFL) to reconsider specific aspects of Piramal Capital and Housing Finance's (PCHF) resolution plan, which had assigned a nominal value of ₹1 to ₹45,000 crore of DHFL's bad loans categorized as avoidance transactions.

- Utkarsh Anand

NEW DELHI:

The top court further affirmed the resolution plan for the erstwhile DHFL, which the CoC and the Mumbai bench of the National Company Law Tribunal's (NCLT) approved in 2021, and it assigned a notional value of ₹1 to potential recoveries exceeding ₹45,000 crore. Subsequently, in September 2021 PCHF successfully acquired DHFL for a total consideration of ₹34,250 crore.

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