Suspended HDIL director Rakesh Kumar Wadhawan has strongly opposed the admission of a ₹1,709.69 crore claim by Suraksha Asset Reconstruction Company (ARC) in the company’s insolvency process, calling it unlawful and alleging fraud. In a letter dated June 1 to Resolution Professional (RP) Abhay Manudhane, Wadhawan demanded immediate revocation of the claim and threatened legal action before the National Company Law Tribunal (NCLT) if corrective steps are not taken.
Wadhawan accused Manudhane of admitting the claim in violation of the Insolvency and Bankruptcy Code (IBC), RBI norms, and judicial rulings. He also sought the withdrawal of voting rights granted to Suraksha ARC in the Committee of…