Kapil Wadhawan wishes to see every penny getting repaid, lawyer on DHFL offer to settle claims

ANI
·2-min read
Representative image
Representative image

New Delhi [India], October 20 (ANI): My client, Kapil Wadhwan, Dewan Housing Finance Corporation Ltd (DHFL) wishes to contribute in resolution of matter and ensure every single rupee is repaid, said Advocate Vijay Aggarwal, who is representing the DHFL promoter in the case, on Monday.

Wadhwan's lawyer, through a statement, said this after he himself had offered to settle all claims and loans of his now insolvent non-bank lender.

The DHFL promoter, who is currently in jail, through a letter written to the administrator appointed by the Reserve Bank of India (RBI) offered his rights, title and interest in 10 projects that he claims are valued more than Rs 43,000 crore, to settle the claims and loans.

"My client wishes to cooperate in resolution of the matter and wants to see that every single penny gets repaid but the limitation is that they are in custody. Their offering even their other properties shows their bona fide. In India in case of default, the person gets arrested and unlocking maximum possible value of assets gets jeopardised," Aggarwal's statement read.

Earlier while offering around 10 projects of DHFL, Wadhwan had stated, "These projects are now being offered to your disposal to be monetized with the maximum value in the most appropriate manner to ensure repayment to the lenders of DHFL. I am committed even today to ensure that all lenders who have supported DHFL be repaid and the resolution of DHFL be successful."

Debt-ridden mortgage lender DHFL had said in September that the Securities and Exchange Board of India (SEBI) has restrained 12 of its promoters from accessing securities market for violating market norms.

They have also been restrained from associating themselves as directors or promoters of any listed public company or associating with any intermediary registered with SEBI.

The market regulator said the violations are very grave in nature and the amount involved in the fraudulent transactions is of a very high magnitude.

The promoters are Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Kumar Wadhawan, Sarang Wadhawan, Aruna Wadhawan, Malti Wadhawan, Anu S Wadhawan, Pooja D Wadhawan, Wadhawan Holding, Wadhawan Consolidated Holding, Wadhawan Retail Venture and Wadhawan Global Capital. (ANI)