DHFL developer Kapil Wadhwan’s offer to settle the claims by transferring its rights, title and interest in at least 10 projects valued at 43,879 crore is not expected to be accepted, according to 63 Moons Technologies.
“Given that the assets of the promoters of DHFL are already seized by investigative agencies and there is an injunction on this subject by the High Court of Madras, this offer is shocking to say the least. The Wadhawans are forced to sell / alienate or encumber even an inch of their assets, ”63 Moons said in a statement.
63 Moons had previously filed a cheating complaint against Wadhwan. The group had invested ₹ 200 crore in non-convertible DHFL bonds, represented by the Wadhawan brothers, on the assurance that they would give a high interest rate of 9.05-9.25 percent per annum. DHFL paid for the period 2016-2017 and then failed to pay.
Recently, Wadhawan had written to the administrator appointed by the Reserve Bank of India to offer him his rights, title and interest in settlement projects. Read here: Kapil Wadhwan proposes to settle all DHFL claims; alleges that “outside forces are trying to drive down the value of DHFL’s assets”
“The very fact that Kapil Wadhwan has now declared such huge assets when in fact he has never previously disclosed any of this personal wealth indicates that he has, in all likelihood, siphoned off this huge sum of DHFL and bleached by projecting it as his family’s property, ”63 Moons said.
Read also : “DHFL used 2.6 lakh fraud at fake branch to siphon funds”
“It is a matter of great concern to those who have lost their money when the newspapers report that on claims of 94,900 crore yen, lenders could face a haircut of 65,000 crore yen because no bidder has only offered more than 20,000 crore yen to acquire the crisis charged DHFL under the IBC, ”he added.
Read also : DHFL lenders consider 65,000 crore haircut
