Piramal Group planning to move Supreme Court against NCLAT order on DHFL

DHFL's acquisition by Piramal Group remains unaffected and the business integration continues as envisaged

The Piramal group is planning to move the Supreme Court to appeal against an NCLAT order which asked lenders to reconsider Piramal ascribing a value of Re 1 to Rs 45,000 crore of bad loans.

In a statement, Piramal said that in the case of one of the appeals, which was limited to the extent of challenging the distribution of proceeds (if any) from fraudulent transactions to its benefit, the NCLAT has ordered it to be re-considered by the Committee of Creditors (CoC). "We have analysed the detailed judgment of the NCLAT and consulted our legal advisors. We are confident