'Court doesn't permit Wadhawans to sell their assets'

The 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 CourtThe company has urged the Enforcement Directorate ED and the Serious Fraud Investigation Office SFIO to arrest Kapil Wadhawan the jailed promoter of crisishit mortgage lender DHFL for offering his personal and family properties worth over Rs 43000 crore as repayment of outstanding to the Reserve Bank of IndiaSince 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 statedNotably 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 43879 croreA report of Grant Thornton commissioned by the Resolution Professional of DHFL contains findings of siphoning of Rs 20000 crore of lenders money to the promoters of DHFL and to entities owned or controlled by themIn 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 socalled settlement of corporate liabilityThe very fact that Kapil Wadhwan has now declared such huge assets when in fact he has never disclosed previously any of this personal wealth points to the fact that he has in all probability siphoned off this huge amount from DHFL and laundered it by projecting it as his or his familys propertyWhile he is enlarged on bail in the Economic Offences Wing EOW investigation 63 moons said all agencies including the EOW the ED and the SFIO need to get to the bottom of his financial dealings and reveal from where he has mopped up such a huge amount and assets This cannot happen unless he is arrested and interrogated in custodyWith Kapil Wadhwan making the settlement offer publicly 63 moons asked him to explain the source of funds to the EOW the ED and the SFIO Describing it as a matter of huge concern for those who have lost their monies it noted that out of the reported claims of Rs 94900 crore lenders may face a haircut of Rs 65000 crore since no bidder has offered more than Rs 20000 crore to acquire the crisishit DHFL under the IBCEvery investor creditor and lender of DHFL therefore has right to know if the Wadhawans have moved attached DHFL properties into their personal names or if they have earlier refrained from disclosing certain high value assets to the law enforcement agencies and the judiciary for which custodial interrogation by the ED and the SFIO is a must according to 63 moonsKeep scrolling to read more newsCatch up on all the latest Crime National International and Hatke news here Also download the new midday Android and iOS apps to get latest updates MidDay is now on Telegram Click here to join our channel middayinfomedialtd and stay updated with the latest newsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever