The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) on November 20, 2019, due to governance concerns and defaults. Mr. R. Subramaniakumar was appointed as the Administrator. Subsequently, RBI filed a Company Petition, C.P. (IB) No. 4258/MB/2019, initiating the Corporate Insolvency Resolution Process (CIRP), which was admitted on December 3, 2019. The Tribunal confirmed the Administrator's appointment. Piramal Capital and Housing Finance Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 93.65% majority. The Administrator filed an application under Section 31 of the Insolvency and Bankruptcy Code (IBC) on February 24, 2021, seeking approval of the Resolution
…The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) on November 20, 2019, due to governance concerns and defaults. Mr. R. Subramaniakumar was appointed as the Administrator of DHFL. Subsequently, RBI filed a Company Petition, C.P. (IB) No. 4258/MB/2019, initiating the Corporate Insolvency Resolution Process (CIRP) against DHFL, which was admitted by the Tribunal on December 3, 2019. The Tribunal confirmed the appointment of the Administrator. Piramal Capital and Housing Finance Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 93.65% majority. The Administrator filed an application under Section 31 of the Insolvency and Bankruptcy Code (IBC) on February
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The Reserve Bank of India (RBI) superseded…
The Tribunal admitted the Company Petition…
The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) on November 20, 2019, due to governance concerns and defaults. Mr. R. Subramaniakumar was appointed as the Administrator. Subsequently, RBI filed a Company Petition, C.P. (IB) No. 4258/MB/2019, initiating the Corporate Insolvency Resolution Process (CIRP), which was admitted on December 3, 2019. The Tribunal confirmed the Administrator's appointment. Piramal Capital and Housing Finance Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 93.65% majority. The Administrator filed an application under Section 31 of the Insolvency and Bankruptcy Code (IBC) on February 24, 2021, seeking approval of the Resolution
…The Reserve Bank of India (RBI) superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) on November 20, 2019, due to governance concerns and defaults. Mr. R. Subramaniakumar was appointed as the Administrator of DHFL. Subsequently, RBI filed a Company Petition, C.P. (IB) No. 4258/MB/2019, initiating the Corporate Insolvency Resolution Process (CIRP) against DHFL, which was admitted by the Tribunal on December 3, 2019. The Tribunal confirmed the appointment of the Administrator. Piramal Capital and Housing Finance Limited submitted a Resolution Plan, which was approved by the Committee of Creditors (CoC) with a 93.65% majority. The Administrator filed an application under Section 31 of the Insolvency and Bankruptcy Code (IBC) on February
…The Reserve Bank of India (RBI) superseded…
The Tribunal admitted the Company Petition…