Archive · 18 Aug 2025
NCLT Declares Ex-DHFL Promoter Kapil Wadhawan Bankrupt
Kapil Wadhawan, who used to run DHFL, owes a lot of money to Union Bank.
He couldn't pay back the money, so a court declared him bankrupt, meaning he can't pay his debts.
The bank started the process because Wadhawan owed a huge amount.
The court made this decision because he didn't have a plan to pay the money back.
Now, a trustee will manage his financial information.
Kapil Wadhawan, former DHFL promoter, has been declared bankrupt by NCLT.
The bankruptcy follows Wadhawan's failure to provide a repayment plan.
Union Bank of India initiated the proceedings due to Wadhawan's ₹39,000 crore debt.
The insolvency resolution process began in April 2024, following a December 2020 petition.
Bankruptcy Trustee Sanjay Kumar Mishra has been appointed.
- Who
- Kapil Wadhawan and Union Bank of India.
- What
- Kapil Wadhawan was declared bankrupt.
- When
- The NCLT declared bankruptcy in 2024.
- Where
- The decision was made by the National Company Law Tribunal (NCLT).
- Why
- Wadhawan failed to provide a repayment plan for his debt.
- Debtor
- Kapil Wadhawan
- Creditor
- Union Bank of India
- Debt Amount
- ₹39,000 crore
- Previous Role
- Ex-DHFL Promoter
- Legal Body
- NCLT
- Bankruptcy Trustee
- Sanjay Kumar Mishra