The approval came after the National Company Law Appellate Tribunal (NCLAT) on May 25 stayed the NCLT order directing DHFL’s Committee of Creditors (CoC) to consider the settlement of its former promoter Kapil Wadhawan.
Piramal Capital & Housing Finance Ltd is a wholly owned subsidiary of Piramal Enterprises. On Friday, shares of DHFL on the BSE closed at Rs 16.70, lower by 9.97 per cent from its previous close.
On June 7, the Mumbai bench of NCLT approved the resolution plan of Piramal Capital & Housing Finance Ltd for DHFL.
It noted that the company through announcement dated June 9, 2021, stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
Advertisement Delisting of the shares has been done as part of the resolution plan of the Piramal Enterprises’ subsidiary.
“In pursuance of Regulation 3.1.2 of the National Stock Exchange (Capital Market) Trading Regulations Part A, and for reasons mentioned above it is hereby notified that the following security will be suspended from trading w.e.f. June 14, 2021 (i.e. closing hours of trading on June 11, 2021),” said an NSE circular.
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