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Finance major Dewan Housing Finance Corporation Ltd (DHFL) was asked to consider a settlement offer by Kapil Wadhawan by the National Company Law Tribunal (NCLT). NCLT has given the lenders 10 days to review the order and come back to the court to present their decision by May 31. This action was taken in response to the petition filed by Wadhan at the NCLT and the order was held since January 15. The offer from Kapil Wadhawan was to refund the Rs 9,000 crore to all the creditors from whom he owned about Rs 91,158 crore. Wadhwan offered to repay what accounts for Rs 31,000 crore in debt in seven years at 8.5% per annum. He also offered to return Rs 12,000 crore within seven years at 11.5% per annum, with a one-year interim. The offer includes repayment of Rs 18,000 crore in five years at 11 per cent per annum, along with a five-year interim. The proposal converts Rs 5,000 crore to equity with Rs 16,158 transformed to zero-coupon bonds. Wadhawan emphasises paying the full amount to Fixed Deposits (FD) and Non Convertible Debentures (NCD) holders. The finance company head has also shown concern over bids by Piramal Enterprises and the other bidders. Piramal Group became a successful bidder for the bankrupt DHFL and the takeover has been approved by the Reserve Bank of India (RBI). Image SourceAlso read: CBI lodges FIR against DHFL for fake PMAY subsidy claims Also read: Piramal could make highest bid for DHFL