In a landmark judgment, the Supreme Court of India has upheld the resolution plan submitted by Piramal Capital and Housing Finance Limited (formerly Dewan Housing Finance Corporation Limited, or DHFL) for the insolvency resolution of DHFL, setting aside the National Company Law Appellate Tribunal’s (NCLAT) order that had partially modified the plan. The apex court’s decision brings closure to one of India’s most high-profile insolvency cases, involving claims worth over Rs. 82,000 crore.
Background of the Case
DHFL, a prominent housing finance company, faced allegations of financial mismanagement and fraud, leading to its insolvency. The Reserve Bank of India (RBI) superseded its board in November 2019, and the…
