Lawstreet Journal

National Stock Exchange and Bombay Stock Exchange suspend trading in the shares of DHFL from June 15th, 2021

Lawstreet Journal 16 Jun 2021 9:59pm

Image courtesy: Lawstreet Journal Business National Stock Exchange and Bombay Stock Exchange suspend trading in the shares of DHFL from June 15th, 2021

The National Stock Exchange and the Bombay Stock Exchange, on Saturday, June 13, 2021 decided to suspend trading in the shares of Dewan Housing Finance Corporation Ltd. (DHFC) form Monday, June 15th, 2021

The decision came as a result of the resolution plan of Piramal Capital & Housing Finance Ltd to acquire the company under which the shares have also been delisted. 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.

The Mumbai bench of NCLT approved the resolution plan of Piramal Capital & Housing Finance Ltd for Dewan Housing Finance Corporation Ltd after the NCLAT had stayed NCLT order directing DHFL’s Committee of Creditors to consider the settlement of its former promoter Kapil Wadhwan.

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Tagged: DHFL  
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