Dewan Housing Finance Corporation Limited (DHFL) will stop trading on the stock exchanges from Monday, June 14. The National Stock Exchange (NSE) in its circular informed about the same saying that DHFL will be suspended from trading with effect from June 14 that is closing hours of trading on June 11, 2021.
DHFL in an announcement on June 8, 2021, informed the exchange regarding the approval of the resolution plan by the National Company Law Tribunal (NCLT), Mumbai bench which provides for delisting of equity shares of the company, NSE said in a circular.
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The circular informed that, further, the company vide announcement dated June 9 stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of Indi (Insolvency Resolution Process for Corporate Persons) Regulations 2016.
The company further mentioned that the written order of the NCLT approving the Resolution Plan is still awaited and all disclosures made remain subject to such orders.
DHFL shares to stop trading from Monday 14th June 2021 pic.twitter.com/3tfoFdpxh7
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People can know that Piramal Capital and Housing Finance emerged as the successful bidder for DHFL. NCLT had on Monday gave its approval to Piramal Group’s bid for bankrupt-DHFL, subject to certain conditions. The resolution plan had already received approvals from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI).