With the coming of Bad Bank and persisting problem of bad loans, the need for NCLT cannot be denied
Image: Shutterstock Just over a month after the National Company Law Tribunal (NCLT)-approved Piramal Capital and Housing Finance’s resolution plan to acquire the bankrupt and debt-ridden mortgage firm Dewan Housing Finance Corporation (DHFL), the matter is back in litigation. Technology firm 63 moons, a debenture holder of DHFL, has challenged the order saying it was ‘contrary to law’ and against the interest of DHFL’s creditors.