63 Moons Technologies, which has claimed Rs 200 crore on DHFL, will challenge the motion in the NCLT against the decision to buy Piramal Group for just Rs 37,500 crore.
Mukesh Ambani’s daughter’s father-in-law took over the debt-ridden Dewan Housing Finance Ltd. (DHFL) has been acquired. The National Company Law Tribunal (NCLT) has given its approval to Piramal Group’s bid for DHFL, which is going through insolvency process, with certain conditions, but now new trouble has come in its acquisition. 63 Moons Technologies, which claimed Rs 200 crore on DHFL, against the right to acquire Piramal Group for just Rs 37,500 crore against the bankrupt company with a total claim of about Rs 85,000 crore Will soon challenge the proposal in NCLT.
The Mumbai bench of the National Company Law Tribunal (NCLT), headed by H P Chaturvedi and Ravikumar Duraisamy, reversed the stand and allowed Piramal Group to acquire DHFL for just Rs 37,500 crore. Lenders have claims of around Rs 85,000 crore on non-banking finance company Dewan Housing.
Wadhawan family’s proposal rejected
Earlier, the NCLAT had asked the committee of lenders on May 25 to consider the offer of the Wadhawan family of DHFL to return about Rs 93,000 crore to the creditors. The NCLT on Monday rejected the proposal of the Wadhawan family on the objection of Piramal Group. Approved the decision of the creditors in favor of the proposal of Piramal Group.
63 Moons terming Piramal’s resolution plan as against the law and in the interest of all creditors of DHFL, said it would approach the NCLT for its claim of Rs 200 crore from Piramal and the remaining Rs 45,000 crore for other NCD holders. .
Now there is a profit of 97 crores
DHFL has earned a consolidated net profit of Rs 96.75 crore in the fourth quarter of the last financial year. DHFL, which is going through the corporate insolvency process, had a net loss of Rs 7,507.01 crore in the same quarter of the previous financial year. The company had a loss of Rs 13,095.38 crore in the December quarter.
In the entire financial year 2020-21, the non-banking financial company has incurred a net loss of Rs 15,051.17 crore. In the previous financial year, the loss was Rs 13,455.81 crore.
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