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

It affirmed the resolution plan for the DHFL, which the Union Bank of India-led Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT)'s Mumbai bench approved in 2021, and assigned a notional value of Rs.1 to potential recoveries exceeding Rs.45,000 crore. Subsequently, in September 2021, PCHF acquired DHFL for a total consi...