The case involves appeals against a common impugned order dated June 7, 2021, passed by the Adjudicating Authority/National Company Law Tribunal, Mumbai Bench, concerning the approval of a resolution plan for Dewan Housing Finance Corporation Ltd (DHFL). The appeals are filed by fixed deposit holders (FD Holders) who are aggrieved by the resolution plan, which they claim does not adequately protect their interests. The FD Holders argue that their deposits should be treated as trust money and given priority over other creditors. The Committee of Creditors (CoC) and other respondents contend that the resolution plan complies with the Insolvency and Bankruptcy Code (IBC) and that the FD Holders are treated fairly as financial creditors.
Dewan Housing Finance Corporation Ltd (DHFL) underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). Several appeals were filed by fixed deposit holders (FD Holders) against the approval of the resolution plan by the Adjudicating Authority (NCLT, Mumbai Bench). The FD Holders claimed that their deposits should be treated as trust money and given priority over other creditors, relying on the NHB Act and RBI Act. The Committee of Creditors (CoC) argued that the resolution plan complied with the IBC and that FD Holders were treated fairly as financial creditors. The total claim amount of public depositors was ₹5,433 crores, out of which a claim of ₹5374 crores was admitted. The resolution plan proposed extinguishing claims
…Sign in to view the parties.
CIRP initiated against…
Adjudicating Authority/National Company Law…
The case involves appeals against a common impugned order dated June 7, 2021, passed by the Adjudicating Authority/National Company Law Tribunal, Mumbai Bench, concerning the approval of a resolution plan for Dewan Housing Finance Corporation Ltd (DHFL). The appeals are filed by fixed deposit holders (FD Holders) who are aggrieved by the resolution plan, which they claim does not adequately protect their interests. The FD Holders argue that their deposits should be treated as trust money and given priority over other creditors. The Committee of Creditors (CoC) and other respondents contend that the resolution plan complies with the Insolvency and Bankruptcy Code (IBC) and that the FD Holders are treated fairly as financial creditors.
Dewan Housing Finance Corporation Ltd (DHFL) underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). Several appeals were filed by fixed deposit holders (FD Holders) against the approval of the resolution plan by the Adjudicating Authority (NCLT, Mumbai Bench). The FD Holders claimed that their deposits should be treated as trust money and given priority over other creditors, relying on the NHB Act and RBI Act. The Committee of Creditors (CoC) argued that the resolution plan complied with the IBC and that FD Holders were treated fairly as financial creditors. The total claim amount of public depositors was ₹5,433 crores, out of which a claim of ₹5374 crores was admitted. The resolution plan proposed extinguishing claims
…CIRP initiated against…
Adjudicating Authority/National Company Law…