DHFL case: application of 63 Moons files with NCLT

63 Moons Technologies has filed a claim with the National Company Law Tribunal (NCLT), Mumbai, requesting that the benefit of annulment claims of approximately ₹ 30,000 crore filed by the DHFL Administrator under Section 66 of the Code Bankruptcy and Insolvency (IBC) be referred to the Creditors Committee (CoC), including holders of non-convertible debentures (NCDs).

63 Moons holds over 200 crore NCD of debt from Dewan Housing Finance Corporation Ltd (DHFL).

“63 Moons’ application came to be heard in court on Thursday, which adjourned it until Jan. 13, 2021 for a final hearing, while ordering the parties to complete oral argument,” 63 Moons said in a statement.

Hopefully, NCLT should cancel any clause in the resolution proposal, unlike the RFP and IBC.

He pointed out that under the resolution plans submitted by resolution seekers, the benefit or recovery amount arising from cancellation requests will go to the resolution requester. This same resolution plan was put to a vote.

63 Moons had also filed a deception complaint against former DHFL promoter Kapil Wadhawan. He had also said that Wadhawan’s offer to settle the claims by transferring his rights, title and interests in at least ten projects valued at ₹ 43,879 crore should not be accepted.

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