The CBI has brought Dewan Housing Finance Corporation Ltd’s former Managing Director Kapil Wadhawan and Director Dheeraj Wadhawan to Delhi from Lucknow for a court hearing in connection with the Rs 34,815 crore bank scam case.
The agency will produce them before the Special CBI court on Tuesday along with alleged aide of Chota Shakeel Ajay Nawandar whose five-day police remand is completing, they said.
Wadhawan brothers were booked in a bank scam case registered by 17 lenders, led by Union bank of India. The case was filed after the NCLAT court had pulled up the consortium of banks, including Union bank of India, for gifting assets worth Rs 40,000 crore for just Rs 1 to Piramal housing.
Apparently, the banks were directed by the NCLT’s Mumbai Bench to consider the settlement proposals made by the promoters who were ready to make full payment to the creditors.
However the resolution passed by SBI Capital Market and E&Y was refused by the banks and instead obtained a stay on the order.
The NCLAT court had even directed that any recoveries from the loan transactions worth Rs 4,000 crore forming the subject matter of the avoidance applications would ensure for the benefit of the creditors. However, the committee of creditors (COC), including the banks obtained a stay on the order from the Supreme Court.
If the settlement proposal by Wadhwans is accepted by the CoC, then all the public money will be fully recovered by not only the Banks but also the FD…
