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63 Moons dues: Bombay HC stops DHFL promoters from leaving the country

63 Moons, which had subscribed to the non-convertible debentures (NCD) of DHFL, approached the court after the company failed to repay the money.

Press Trust of India  |  Mumbai 

63 moons | Photo: Twitter
63 moons | Photo: Twitter

The Bombay High Court on Thursday restrained Dewan Housing Finance Corporation Ltd (DHFL) promoters Dheeraj Wadhawan and Kapil Wadhawan from leaving the country until further orders, in a plea filed by Technologies seeking recovery of around Rs 200 crore dues.

Justice S J Kathwalla said the Wadhawans will have to seek permission from the high court if they wish to leave the country.

The bench was hearing a plea filed by Jignesh Shah-promoted Technologies, seeking directions against and for the recovery of around Rs 200 crore that it said was due from the mortgage lender, and to ensure that promoters Dheeraj Wadhawan and his brother Kapil Wadhawan do not leave the country.

earlier told the court that the Wadhawans may have to travel abroad to raise funds. 63 Moons, however, raised apprehensions that the Wadhawans, if allowed to leave the country, may escape.

63 Moons, which had subscribed to the non-convertible debentures (NCD) of DHFL, approached the court after the company failed to repay the money.

challenged the maintainability of the petition, arguing that trustees of the bond-holders already moved an application in the Pune bench of the Debt Recovery Tribunal (DRT) for recovery of dues on behalf of the debenture holders, hence this plea could not be entertained.

The Enforcement Directorate is conducting a probe against DHFL over alleged financial irregularities.

The court has posted the plea for further hearing on November 14.

First Published: Thu, November 07 2019. 15:15 IST
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