DHFL insolvency case: NCLT appoints panel to oversee resolution plan

The Mumbai bench of the NCLT approved Piramal Group's resolution plan for the beleaguered DHFL on June 7.

The National Company Law Tribunal (NCLT), while approving the resolution plan of Piramal Group for Dewan Housing Finance Limited (DHFL) has named a seven-member supervision committee, which will be given the power to manage and control the beleaguered housing financier during the period between the approval of the plan and its implementation.
 
The panel will have three representatives from the committee of creditors (CoC), two representatives nominated by the Piramal Group, and the administrator, provided that if the administrator has not provided his consent in this regard, then an insolvency professional or an industry expert as nominated by the