Piramal Enterprises Ltd on Friday said it will pursue various legal options, including moving the Supreme Court, after the NCLAT ordered the Committee of Creditors of DHFL to consider the petition filed by 63 Moons Technologies. In a statement on Friday, PEL also said the DHFL acquisition by Piramal Group remains unaffected and the business integration continues as envisaged. “We have analysed the detailed judgment of the NCLAT and consulted our legal advisors. We are confident and will continue to pursue the matter as multiple legal options are available to us for our future course of action, including approaching the Apex court,” PEL said. Piramal Capital and Housing Finance Ltd acquired DHFL for ₹34,250 crore in September 2021. 63 Moons had filed a petition in NCLAT against Piramal ascribing a value of ₹ 1 to ₹ 40,000 crore worth of recoverable assets in the Dewan Housing Finance Corporation Ltd case. The company had non-convertible debentures of the face value of ₹200 crore in DHFL. PEL noted that most appeals filed by several parties before the NCLAT against Piramal’s approved DHFL resolution plan were disposed off on January 27, 2022. “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 the benefit of the Resolution Applicant, NCLAT has ordered it to be re-considered by the CoC,” it further said. PCHFL has retained over 3,000 employees of the DHFL Group and is adding over 2,000 new jobs in the merged entity, PEL said. New origination of affordable housing loans has been restarted at all 301 branches across the country. PEL scrip closed 2.79 per cent higher at ₹2,368 apiece on the BSE on Friday.

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