Housing Development and Infrastructure (HDIL) has tanked 15% to Rs 26.15, also its record low on BSE, on reports that Indiabulls Financial Services (IHFL) has alleged that Rakesh and Sarang Wadhawan, the promoters of real estate Company, have failed to pay interest on their loan.
“IHFL has declared Rakeshkumar Kuldipsingh Wadhawan and Sarang Wadhawan, the promoters of HDIL as loan defaulters. Their loan accounts have been classified as non-performing asset,” the Business Standard report suggests.
IHFL has given them 60 days time to clear dues. If they fail to pay up, the company may proceed to take possession of mortgaged property in Goa. The amount due is about Rs 46 crore, added the report.
“IHFL has declared Rakeshkumar Kuldipsingh Wadhawan and Sarang Wadhawan, the promoters of HDIL as loan defaulters. Their loan accounts have been classified as non-performing asset,” the Business Standard report suggests.
IHFL has given them 60 days time to clear dues. If they fail to pay up, the company may proceed to take possession of mortgaged property in Goa. The amount due is about Rs 46 crore, added the report.
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