InvestorQ : What is the update on the Dewan Housing resolution, which has been objected to by former promoters?
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What is the update on the Dewan Housing resolution, which has been objected to by former promoters?

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Juvina Maggie answered.
1 week ago
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Despite the case filed by Kapil Wadhawan in the Supreme Court, NCLT has approved the Piramal sponsored resolution plan for Dewan Housing. Of course, this is still subject to appeal at the appellate tribunal and Supreme Court. Wadhawan’s higher offer has already been struck down by the NCLTAT.

Under the resolution plan, Piramal Enterprises will offer Rs.37,250 crore including upfront cash payment of Rs.12,700 crore. Subsequent to the completion of the deal, the DHFL stock will be delisted from the stock exchanges. Post the approval of the Committee of Creditors or COC, this deal has already been approved by the RBI and the CCI too.

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