The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved Piramal Group's resolution plan for the debt-ridden mortgage firm Dewan Housing Finance (DHFL). "We wish to further inform you that Hon'ble National Company Law Tribunal, Mumbai Bench has today accorded its approval to the resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) in relation to the CIRP of DHFL," Piramal Enterprises said in a regulatory filing to the stock exchanges.
Piramal Group's resolution plan was approved by the committee of creditors earlier in January.
DHFL's shares would be delisted from stock exchanges post the acquisition by Piramal Capital and Housing Finance.
At 12:15 pm, Piramal Enterprises shares had zoomed by 6.4 per cent to Rs 2,088.75 on the BSE as against a 0.22 per cent decline in the benchmark indices.