DHFL Resolution- Kapil Wadhawan Writes to SEBI, RBI Against 63 Moons

Business Standard DHFL resolution: Kapil Wadhawan writes to SEBI, RBI against 63 Moons

63 Moons has filed a writ petition before the Madras High Court seeking attachment of assets belonging to DHFL, Wadhawan said in the letter

Jailed erstwhile promoter of crisis-hit DHFL Kapil Wadhawan has written to the Reserve Bank and Sebi alleging that 63 Moons Technologies is hampering the company's insolvency resolution process.

While lenders are looking to auction DHFL assets to recover Rs 83,000 crore of unpaid loans, Jignesh Shah-founded 63 Moons Technologies has filed a writ petition in the Madras High Court seeking attachment of DHFL assets to recover its dues of Rs 200 crore.

In a letter to RBI Governor Shaktikanta Das and Sebi Chairman Ajay Tyagi, with copies marked to the Prime Minister's Office, Wadhwan has alleged that 63 Moons is seeking to give precedence to the recovery of its dues over the Rs 80,000 crore of outstanding that other creditors would get to settle in the insolvency process.

When reached for comments, a 63 Moons spokesperson, in a statement, expressed surprise at Wadhawan being able to write the letter from Taloja Prison (New Mumbai) and said, while it would not like to comment on the contents of the letter, the company was "committed to recovering its money".

While the spokesperon did not state what its outstanding due from DHFL is, Wadhawan, in the letter, stated that 63 Moons had invested Rs 200 crore in non-convertible debentures of DHFL during a public issue in 2016 and these are redeemable from 2023 onwards.

"I am constrained to address this letter to draw your attention to the unfortunate and destructive actions taken by 63 Moons Technologies which are likely to disrupt the entire resolution process of DHFL which is presently undergoing," Wadhawan said in his letter, a copy of which has been reviewed

by PTI. 63 Moons has filed a writ petition before the Madras High Court seeking attachment of assets belonging to DHFL, Wadhawan said in the letter.