BSE, NSE droop buying and selling of DHFL shares from June 14: Know why

The Bombay Inventory Alternate (BSE) and Nationwide Inventory Alternate (NSE) knowledgeable that DHFL might be suspended from buying and selling with impact from June 14, that’s closing hours of buying and selling on June 11, 2021.

“Dewan Housing Finance Company Restricted vide its announcement dated June 08, 2021 knowledgeable the Alternate concerning approval of the decision plan by Nationwide Firm Legislation Tribunal (NCLT), Mumbai Bench which gives for delisting of fairness shares of the Firm. Additional, the Firm vide announcement dated June 9, 2021 acknowledged that no worth was attributable to the fairness shares as per the liquidation worth of the Firm estimated by registered valuers appointed underneath the Insolvency and Chapter Board of India. Additional, Firm has additionally talked about that the written order of the NCLT approving the Decision Plan remains to be awaited and all disclosures made stay topic to such orders,” acknowledged each the exchanges of their respective circulars.

The event comes at a time when the DHFL scrip has hit consecutive decrease circuits on Thursday and Friday. DHFL scrip on NSE closed 10{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942} decrease on Friday at Rs 16.70.

On Tuesday, making an about-turn, the Mumbai bench of the Nationwide Firm Legislation Tribunal (NCLT) chaired by HP Chaturvedi and Ravikumar Duraisamy, allowed Piramal Group to take over DHFL underneath the chapter code for as little as Rs 37,500 crore in opposition to a declare of near Rs 85,000 crore.

It had on Could 25 requested the committee of collectors to contemplate the Wadhawans supply of paying again nearly Rs 93,000 crore to the lenders and collectors, which was stayed by the NCLAT after the Pirmal group challenged it. However on Monday the bench cleared the Pirmal bid saying they revered the business knowledge of the lenders and thus additionally rejected the previous DHFL promoters’ supply to pay again greater than 100 per cent of the claims.

In November 2019, DHFL turned the primary NBFC to be referred for chapter by the RBI.

Fairness shares of Dewan Housing Finance Company Ltd might be delisted from the inventory exchanges going forward, as a part of the decision plan of Piramal Capital & Housing Finance Ltd.

“As a part of the Decision Plan, the fairness shares of the Firm are proposed to be delisted. Acceptable disclosures by way of Regulation 3(3) of the Securities and Alternate Board of India (Delisting of Fairness Shares) Laws, 2009, shall be made following receipt of the copy of the Order by the Nationwide Firm Legislation Tribunal approving the Decision Plan,” DHFL mentioned in a regulatory submitting.

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