DHFL's former directors move NCLT
Former directors of Dewan Housing Finance Corporation Ltd on Wednesday filed an application in the National Company Law Tribunal seeking participation in the committee of creditors' (CoC) meetings. The DHFL former directors were denied participation in the CoC meetings as its board was superseded by the Reserve Bank of India (RBI) in November 2019. The participation in the CoC meetings cannot be allowed as the insolvency process was initiated by the RBI, the counsel representing the administrator said. The tribunal directed the administrator to file a reply in this regard before February 19. Meanwhile, last week, the Uttar Pradesh Power Corporation Contributory Provident Fund Trust had moved NCLT to recover dues from DHFL.
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