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

Products

10 Sep 2025

Hikvision Boosts Traffic Safety with Smart Entry-Exit Solutions

Smart Entrance and Exit Management Solutions are increasingly vital for improving traffic safety and transport security. Hikvision has introduced advanced systems featuring automated boom barrier gates with multiple pole options, enabling flexible and efficient access control. These solutions address vehicle entry and exit challenges across malls, residential complexes, industrial parks, corporate campuses and retail facilities. By offering detailed vehicle movement records, they reduce risks such as theft or damage while supporting security managers in maintaining safe operations. H..

John Crane Launches Type 8628VL Seal for Ethane Pipelines

John Crane has unveiled the Type 8628VL, a next-generation mechanical seal engineered to address sealing challenges in multiphase ethane and ethylene pipelines. Using spiral groove non-contacting technology, the seal ensures high reliability, operational efficiency, and environmental compliance under volatile pressure and temperature conditions. Ethane pipelines face frequent phase shifts from liquid to vapour to supercritical, often compromising conventional seals. The Type 8628VL, with dual non-contacting seal faces in tandem configuration, delivers hydrodynamic lift, phase-change resilienc..

Embassy’s Paradiso in North Bengaluru Sold Out at Rs 2.04 billion

Embassy Developments has announced that Paradiso, its latest luxury plotted development in Embassy Springs, North Bengaluru, has sold out completely, generating pre-sales of about Rs 2.04 billion. Spread across 6.4 acre, Paradiso offers large-format plots between 4,300 and 4,800 sq ft, starting at Rs 43 million. The project attracted strong demand from high-net-worth individuals and new-age buyers seeking premium plots in low-density, infrastructure-ready communities in Bengaluru’s prime growth corridor. Embassy Springs, a 300-acre township located 15 minutes from Kempegowda Intern..