Mumbai : Rakesh Wadhawan, the suspended director and promoter of Housing Development and Infrastructure Limited (HDIL), has lodged a complaint with the Insolvency and Bankruptcy Board of India (IBBI) regarding alleged inaccuracies in debt claims related to the Palghar project. Wadhawan, currently out on bail, is challenging a resolution passed by the company’s administrator that sanctioned significant debt repayments based on what he claims are false homebuyer claims.
In his complaint, Wadhawan pointed out that the Paradise City project in Palghar had already been completed and received an Occupation Certificate (OC). Many buildings in Sector 1 had formed housing societies, and numerous residents had taken possession of their homes. Despite this, Wadhawan alleges that several homeowners still residing in the project have been incorrectly listed as debtors. He argues that these claims were accepted without proper verification, inflating the company’s liabilities.
In response, the RP had previously assured Wadhawan that the mere appearance of a nameplate does not confirm possession and that the resolution plan, despite its acceptance, would be scrutinized by a screening committee to prevent any customer from being granted duplicate possession of flats. The RP also asserted that there was no irregularity in the claims review process.
Wadhawan also noted that buyers who delayed taking possession and from whom the company was due interest were mistakenly included as debtors. He presented documents to support his claims, such as Claim Number 3986, involving ₹12,42,944 for a company that had already taken possession of a flat, and Claim Number 3944, listing ₹17,61,245 for an individual who had also taken possession.
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