NCLAT sets aside NCLT order permitting consideration of Kapil Wadhawan’s settlement proposal

Citing Supreme Court precedent, the NCLAT observed that after the CoC had approved resolution plan NCLT could not have directed it to consider Wadhawan’s proposal.
NCLAT sets aside NCLT order permitting consideration of Kapil Wadhawan’s settlement proposal

The National Company Law Appellate Tribunal (NCLAT) set aside the order of the National Company Law Tribunal, Mumbai, which directed the administrator of Dewan Housing Finance Corporation Ltd. (DHFL) to place the second settlement proposal sent by Kapil Wadhawan before the Committee of Creditors (CoC).

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