InvestorQ : What is your view on NCLT ordering that Kapil Wadhawan’s bid for Dewan Housing be looked at?
Dawn Cherian made post

What is your view on NCLT ordering that Kapil Wadhawan’s bid for Dewan Housing be looked at?

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Mitali Bhutta answered.
3 weeks ago
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In one sentence, it could have been avoided and should have been avoided. There is no point in asking the COC to take a look at Kapil Wadhawan’s proposal when the PEL deal is approved by the COC and the RBI. It just sets the wrong precedent. This was prevented in the Mallya and Ruia cases. It is like giving the company to a defaulting promoter through the back door at a lower price. If Wadhawan wanted to pay, he would have done that already.

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