New Delhi, April 2 -- 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 Rs.1 to Rs.45,000 crore of DHFL's bad loans categorised as avoidance transactions.
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 Rs.1 to potential recoveries exceeding Rs.45,000 crore. Subsequently, in September 2021 PCHF successfully acquired DHFL for a to...