NCLAT urges CoC rethink on Piramal ascribing Re 1 value to DHFL's bad loans

63 Moons Technologies had moved tribunal over the low valuation ascribed to assets worth Rs 40,000 cr, with DHFL lenders getting nothing if Piramal group recovered from these loans later

The National Company Law Appellate Tribunal (NCLT) on Thursday ordered DHFL’s committee of creditors to reconsider Piramal Capital and Housing Finance, the acquirer of the failed housing company,  ascribing a value of only Rs 1 to Rs 45,000 crore worth of bad loans of DHFL.

As any recovery from these default loans in future will not go to the lenders, but instead go to Piramal, 63 Moons Technologies — a lender of DHFL — had moved NCLAT.

DHFL, a Mumbai-based housing finance company, had collapsed after it failed to repay its debt worth Rs 90,000 crore to the Indian lenders and was