DHFL directors to HC: Won’t leave country before November 15

Dheeraj and Kapil Wadhawan, the directors of Dewan Housing Finance Limited (DHFL), on Thursday assured the Bombay high court (HC) that they would not leave the country

Dheeraj and Kapil Wadhawan, the directors of Dewan Housing Finance Limited (DHFL), on Thursday assured the Bombay high court (HC) that they would not leave the country before November 15.

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They were responding to a plea by financial firm 63 Moons Technologies Ltd seeking to restrain the duo from leaving the country until final disposal of the dispute.

The Wadhawans had sought to travel abroad to arrange funds to pay the ₹200 crore owed to 63 Moons. The bench of justice SJ Kathawalla, while hearing the interim plea, was informed that the Debt Recovery Tribunal (DRT) at Pune had heard the matter on November 5 and reserved its order till November 14.

After the counsel for the Wadhawans said that the duo did not intend to flee, justice Kathawalla accepted the assurance.

63 Moons approached the court after DHFL failed to repay ₹200 crore which the former had paid to subscribe to non-convertible debentures of DHFL.