Wadhawan approaches RBI, CoC with revised offer for DHFL
A sum of Rs 18,000 crore will be repaid within a period of five years in equal annual instalments, following a five-year moratorium with 11 per cent per annum interest.
In a significant turn of events, seven police officers have been apprehended for allegedly granting preferential treatment to DHFL (Deewan Housing Finance Corporation Limited) promoters Kapil Wadhawan and Dheeraj Wadhawan. The Wadhawan brothers had been previously arrested in connection with a multi-crore bank loan scam. Here’s an insight into the background of the Wadhawan brothers.
Kapil Wadhawan is a prominent figure in the Indian business landscape. He holds the positions of Chairman and Managing Director at DHFL, India’s largest housing finance company. His contributions extend to various sectors as a businessman, investor, and entrepreneur.
Kapil Wadhawan, his younger brother Dheeraj Wadhawan, and several other individuals find themselves embroiled in a colossal fraud case. The alleged wrongdoing involves an astonishing sum of Rs. 34,615 crores. The charges include criminal conspiracy and cheating, with 17 banks under the Union Bank of India falling victim to the alleged wrongdoing.
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The complaint against DHFL, filed by the United Bank of India in 2021, triggered a comprehensive investigation by the Central Bureau of Investigation (CBI) in February 2022. The probe uncovered evidence suggesting that the company had manipulated its financial records to facilitate the fraudulent activities.
At present, both Kapil and Dheeraj Wadhawan are in judicial custody at Taloja jail. The CBI is actively investigating approximately 12 different locations in Maharashtra linked to DHFL.
More about Wadhawan brothers:
Kapil Wadhawan, the son of Rakesh Wadhawan and Aruna Wadhawan, is the husband to Vanita Wadhawana. He has two children, a son named Kartik Wadhawan and a daughter named Tiana Wadhawan. His estimated net worth is around Rs. 3000 crores.
In terms of education, Kapil Wadhawan pursued his studies at Edith Cowan University, Joondalup Campus.
As of now, the police have kept the Wadhawan brothers at Taloja prison in Navi Mumbai. Recent developments have shed light on alleged negligence by police personnel responsible for escorting the brothers. This sparks a rigorous review of the situation by senior police officers.
This unfolding story continues to capture attention and scrutiny as investigations into the DHFL case proceed.
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