Madras HC doesn’t permit Wadhawans to sell its assets: 63 moons

Mumbai, Oct 22 : 63 moons technologies have said the Wadhawans are restrained from selling or alienating or encumbering even an inch of their assets as per the directions of the Madras High Court.
The company has urged the Enforcement Directorate (ED) and the Serious Fraud Investigation Office (SFIO) to arrest Kapil Wadhawan, the jailed promoter of crisis-hit mortgage lender DHFL, for offering his personal and family properties worth over Rs 43,000 crore as repayment of outstanding to the Reserve Bank of India.
“Since DHFL promoters’ assets are already attached by investigative agencies and there is an injunction regarding the same by the Madras High Court, this offer is shocking to say the least,” 63 moons stated.
Notably, DHFL promoter Kapil Wadhwan, accused of siphoning off thousands of crores of public money for personal gains, has made a surreptitious settlement offer to the RBI administrator, to settle the claims by transferring his rights, title and interest in at least ten projects that he claims are valued at Rs 43,879 crore.
A report of Grant Thornton, commissioned by the Resolution Professional of DHFL, contains findings of siphoning of Rs 20,000 crore of lenders’ money to the promoters of DHFL and to entities owned or controlled by them.
In view of these serious issues, 63 moons said, the immediate arrest and custodial interrogation of Kapil Wadhwan under the Prevention of Money Laundering Act by the ED and SFIO will help verify these facts as also to unravel the source and colour of the huge funds and assets he claims to possess and has offered towards the so-called settlement of corporate liability.