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India’s Supreme Court rules in favor of Piramal over creditors in DHFL's financial dispute.
The Supreme Court of India has upheld Piramal Capital & Housing Finance's resolution plan for Dewan Housing Finance Corporation (DHFL), overturning a previous ruling.
The court decided that proceeds from fraudulent transactions will go to Piramal, not to DHFL's creditors.
This ruling dismisses appeals by depositors and debenture holders and overturns a National Company Law Appellate Tribunal order that had asked lenders to reconsider parts of the resolution plan.
The total value of recoveries at stake is around Rs 45,000 crore.
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