SC upholds Piramal Capital & Housing Finance’s resolution plan for DHFL
The Supreme Court on Tuesday upheld Piramal Capital & Housing Finance’s resolution plan for erstwhile Dewan Housing Finance Corporation Ltd (DHFL), overturning the National Company Law Appellate Tribunal’s (NCLAT) order that asked the lenders of the debt-laden firm to relook into certain parts of the resolution plan that ascribed a value of only Rs 1 to Rs 45,000 crore worth of bad loans (avoidance and fraudulent transactions) of DHFL. The apex court also dismissed various appeals including one by former promoter Kapil Wadhawan, challenging the resolution plan on the grounds that Piramal acquired the Rs 90,000-crore company for just Rs…