Non-Applicability of IBC 2016 on DHFL Scam (with relevant documents for litigation)

Once in a Blue Moon Academia

Posted on 11/08/2021

Kirti Kumar Pal

The Author prepared this document for the benefit of the legal advisers in various litigation. The document is designed for the happiness and welfare of the many (बहुजनहितायबहुजनसुखायच॥).

A) Under Provision of Laws

(I).DHFL was solvent Company having sufficient asset Cover ,1.16 times of debt Liability as per affidavit submitted & accepted by BHC . Loan repayment to SBI Singapore was stopped due to Order of DRT & BHC. ( Please refer attachment 1&2)

RBI knew it very well But obtained Go- Ahead Consent from NCLT Mumbai through concealment of fact and suppression of information thus by fraudulent means.( Please attachment no.6)

(2) DRTand BHC through their Order on dated 8/11/2019 &14/ 11/ 2019 lifted ban on duepayment to Banks Secured and Un secured Creditors. But RBI appointed administrator concealed and suppressed this vital information to NCLT , Mumbai. DRT also ordered…

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