The National Stock Exchange in its circular revealed that it has suspended the trading in equity shares of Dewan Housing Finance Corporation Ltd (DHFL). This ban will be in effect from June 14, 2021.
On June 8, DHFL had already informed the exchange regarding the approval of the resolution plan by the National Company Law Tribunal (NCLT), Mumbai bench which provides for delisting of equity shares of the company, NSE said.
Further, the company vide announcement dated June 9 stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of Indi (Insolvency Resolution Process for Corporate Persons) Regulations 2016, the NSE circular read.
The company further revealed that the written order of the NCLT approving the Resolution Plan is still awaited and all disclosures made remain subject to such orders.