Kapil Wadhawan offers ‘Rs 43,000 crore’ of assets to repay DHFL creditors

DHFL promoter Kapil Wadhawan, who is in judicial custody, has written to R Subramaniakumar, the RBI-appointed administrator, offering family assets “valued at Rs 43,000 crore” to facilitate the resolution process of DHFL.

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Wadhawan is in judicial custody since April

At least four bidders, including the Adani group, Piramal Enterprises, US-based Oaktree and SC Lowy of Hong Kong have evinced interest in taking over the assets of troubled Dewan Housing Finance Corporation Ltd (DHFL).

In a parallel move, DHFL promoter Kapil Wadhawan, who is in judicial custody, has written to R Subramaniakumar, the RBI-appointed administrator, offering family assets “valued at Rs 43,000 crore” to facilitate the resolution process of DHFL.

The largest bid has come from Oaktree, which offered around Rs 20,000-28,000 crore for DHFL assets while the total claims are over Rs 95,000 crore. Adani has bid for DHFL’s wholesale and Slum Rehabilitation Authority (SRA) portfolio. Piramal has reportedly bid for DHFL’s retail portfolio for around Rs 12,000 crore.

Meanwhile, Wadhawan claimed that the Rs 43,000 crore offer to lenders is to ensure that maximum value is obtained for the assets which are being put on the block and maximum amount is paid to the lender.

In a letter dated October 17, 2020 sent from the Taloja jail, Wadhawan has stated that the valuation of properties and assets, carried out by Knight Frank, would be Rs 43,040 crore. Wadhawan, in his letter, has offered his personal and family properties to be monitored to ensure repayment of DHFL lenders.

First uploaded on: 20-10-2020 at 00:01 IST

JAC Jharkhand Board 10th Result 2024: Websites to check JAC Matric scorecard

EducationUpdated: April 19, 2024 20:23 IST

Jharkhand Academic Council (JAC) will declare the Class 10 results today (April 19) on their official websites. Students can access their scorecards by entering their login details on jac.nic.in, jharresults.nic.in, or jac.jharkhand.gov.in. The marksheet will include personal details, subject-wise marks, and a cumulative score. Last year, the pass percentage was 95.38%.

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