NCLAT stays NCLT diktat to banks to mull Wadhawan offer
The Hindu
Direction not to impair approval of plan selected by CoC
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the direction of NCLT Mumbai telling DHFL’s lenders to consider the offer by the debt-ridden mortgage firm’s erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A.I.S. Cheema and Member-Technical V.P. Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT had directed the settlement plan offered by Mr. Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
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