DHFL resolution: NCLT asks lenders to consider Kapil Wadhawan’s offer

20 May 2021 CW Team

Finance major Dewan Housing Finance Corporation Ltd (DHFL) was asked to consider a settlement offer by Kapil Wadhawan by the National Company Law Tribunal (NCLT).

NCLT has given the lenders 10 days to review the order and come back to the court to present their decision by May 31.

This action was taken in response to the petition filed by Wadhan at the NCLT and the order was held since January 15.

The offer from Kapil Wadhawan was to refund the Rs 9,000 crore to all the creditors from whom he owned about Rs 91,158 crore.

Wadhwan offered to repay what accounts for Rs 31,000 crore in debt in seven years at 8.5% per annum. He also offered to return Rs 12,000 crore within seven years at 11.5% per annum, with a one-year interim.

The offer includes repayment of Rs 18,000 crore in five years at 11 per cent per annum, along with a five-year interim. The proposal converts Rs 5,000 crore to equity with Rs 16,158 transformed to zero-coupon bonds.

Wadhawan emphasises paying the full amount to Fixed Deposits (FD) and Non Convertible Debentures (NCD) holders.

The finance company head has also shown concern over bids by Piramal Enterprises and the other bidders.

Piramal Group became a successful bidder for the bankrupt DHFL and the takeover has been approved by the Reserve Bank of India (RBI).

Image Source

Also read: CBI lodges FIR against DHFL for fake PMAY subsidy claims

Also read: Piramal could make highest bid for DHFL

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..