The appeals arise from the same set of facts and proceedings. The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) and appointed an Administrator. The RBI filed an application against DHFL before the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016, which was admitted on 03.12.2019. The Administrator filed various Interlocutory Applications (IAs) challenging transactions by DHFL. Piramal Capital & Housing Finance Ltd.'s resolution plan was approved by the Committee of Creditors (CoC) on 15.01.2021. Piramal, as the Successful Resolution Applicant, filed IAs to substitute itself in place of the erstwhile Administrator to pursue avoidance applications. The Adjudicating Authority
…1. The Reserve Bank of India (RBI) initiated Corporate Insolvency Resolution Process (CIRP) against Dewan Housing Finance Corporation Limited (DHFL) by superseding its board and appointing an Administrator.
2. The Adjudicating Authority admitted the application on 03.12.2019 and confirmed the appointment of the Administrator.
3. The Administrator filed various Interlocutory Applications (IAs) challenging certain transactions undertaken by DHFL.
4. Piramal Capital & Housing Finance Ltd.'s resolution plan was approved by the Committee of Creditors (CoC) on 15.01.2021.
5. The resolution plan contained a clause allowing Piramal to pursue avoidance applications.
6. Piramal filed IAs to substitute itself in place of the erstwhile Administrator to pursue the avoidance
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The Adjudicating Authority admitted the…
The Resolution Plan submitted by Piramal…
The appeals arise from the same set of facts and proceedings. The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) and appointed an Administrator. The RBI filed an application against DHFL before the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016, which was admitted on 03.12.2019. The Administrator filed various Interlocutory Applications (IAs) challenging transactions by DHFL. Piramal Capital & Housing Finance Ltd.'s resolution plan was approved by the Committee of Creditors (CoC) on 15.01.2021. Piramal, as the Successful Resolution Applicant, filed IAs to substitute itself in place of the erstwhile Administrator to pursue avoidance applications. The Adjudicating Authority
…1. The Reserve Bank of India (RBI) initiated Corporate Insolvency Resolution Process (CIRP) against Dewan Housing Finance Corporation Limited (DHFL) by superseding its board and appointing an Administrator.
2. The Adjudicating Authority admitted the application on 03.12.2019 and confirmed the appointment of the Administrator.
3. The Administrator filed various Interlocutory Applications (IAs) challenging certain transactions undertaken by DHFL.
4. Piramal Capital & Housing Finance Ltd.'s resolution plan was approved by the Committee of Creditors (CoC) on 15.01.2021.
5. The resolution plan contained a clause allowing Piramal to pursue avoidance applications.
6. Piramal filed IAs to substitute itself in place of the erstwhile Administrator to pursue the avoidance
The Adjudicating Authority admitted the…
The Resolution Plan submitted by Piramal…