Kapil Wadhawan wrote to RBI-appointed administrator R Subramaniakumar on October 17 saying his offer would ensure maximum value for the assets that have been put on the block to repay loans.
Oaktree Capital is said to have offered the highest recovery for lenders by far and maybe a natural choice. However, banks are planning to negotiate the offer higher and would hold discussions with the bidders over this week
DHFL was the first finance company to be referred to NCLT by the RBI using special powers under section 227.
According to the auditor's report, the Rs 2,150.84 crore-fraud was in relation to the undervalued and fraudulent nature of certain agreements entered into by the DHFL when the company sold its stake in Pramerica Life Insurance Ltd to DHFL Investments Ltd (DIL), as per a regulatory filing.
The entire amount mentioned above along with interest for the remaining period is claimed through the application filed with the NCLT, it added.
The Enforcement Directorate said the apartment was purchased by Rana Kapoor in 2017 in the name of DOIT Creations Jersey Limited, wherein he is the beneficial owner.
The market regulator has also restrained the 12 promoters of the crisis-hit company from associating themselves as directors or promoters of any listed public company or any public firm that intends to raise money from the public.
Newly appointed Police Commissioner Amitabh Gupta had written a note that mentioned that the vacationing group that included Kapil and Dheeraj Wadhawan was “well-known to me as they are my family friends and are travelling from Khandala to Mahabaleshwar for a family emergency”
The High Court went by its own precedent, set last month, which said the 60 days for submission of a chargesheet begin from the day an arrested accused is produced for remand. The earlier norm was to exclude the day remand was ordered. The Supreme Court, too, has ruled that the date of remand has to be excluded.
Deutsche Bank likely bought most of the DHFL debt on behalf of overseas investors.
Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Ltd (DHFL) and RKW Developers respectively, were arrested in April by the CBI in connection with the scam.
The investigating agency may file the complaint against 13 individuals and entities including DHFL promoters Kapil and Dheeraj Wadhawan.
On the NSE, it tanked 6.73 percent to Rs 34.60.
The Enforcement Directorate has attached properties in Mumbai, London and United States worth Rs 1,000 crore belonging to Rana Kapoor and his family
The payments to the lenders or NCD holders remain in abeyance and will be subject to the outcome of the CIRP process, DHFL said.
The RBI has noted that market financing conditions for NBFCs, assessed through various market metrics, have shown sign of deterioration post the outbreak of COVID-19, especially for lower rated /private sector NBFCs.
The Wadhawan brothers have been named accused in the CBI FIR pertaining to alleged swindling of money by Kapoor and others, officials said.
Kapil and Dheeraj Wadhawan, promoter of DHFL and RKW Developers, respectively, are facing charges of financial irregularities in cases filed by the ED and CBI
On April 26, the CBI had arrested the duo in Mahabaleshwar after a Mumbai court vacated its April 18 order on April 25, which had stayed till May 5 their non-bailable warrants
The duo are accused of financial irregularities under the Prevention of Money Laundering Act and have been out on bail since February 21.
The CBI had opposed the plea highlighting that the court must look only into urgent matters right now in view of the lockdown, and this does not qualify as one
According to the Enforcement Directorate, the Wadhawans had real estate dealings with gangster Dawood Ibrahim's aide and drug trafficker Iqbal Mirchi, whom they allegedly met in London.
Dewan Housing Finance Corporation (DHFL) on Tuesday said it will not make any interest or principal payment to lenders as well as bondholders as the company is under resolution process.
The Wadhawan brothers, who denied any wrongdoing in their dealings with the bank, were supposed to appear before the central agency on Tuesday at its office in south Mumbai.
The ED accused Kapoor of sanctioning a Rs 202 crore fraudulent loan for an HDIL group firm, which was part of a joint venture with the DE Shaw group.