The Mumbai bench of National Company Law Tribunal, declared the personal guarantor, the former chairman of the Dewan Housing Finance Corporation Limited (DHFL) bankrupt over dues of ₹4,545,96,56,973.57 related to the Dewan Housing Finance Corporation Limited (DHFL) facility agreements, providing relief to Union Bank of India (UBI).
Union Bank of India,petitioner-financial creditor ,had provided credit facilities to the Corporate Debtor along with Andhra Bank and Corporation Bank, which merged into Union Bank on 01.04.2020. The parties entered into several Consortium Agreements, including the original dated 24.07.2010 and five supplemental agreements until 18.06.2015 (together called ‘DHFL Facility…