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Piramal Group's resolution plan for beleaguered DHFL gets NCLT nod

Piramal's plan offers to pay Rs 37,250 crore, with upfront cash of Rs 12,700 crore.

DHFL
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DHFL became the first financial services company to be referred to the NCLT by RBI in November 2019.

Subrata Panda Mumbai
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group’s resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019.

The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).

“At NCLT level, the corporate insolvency resolution process is complete,” said a source aware of the development.

While the bankruptcy tribunal has approved the overall plan, it has asked for reallocating

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