Wadhawan Global Capital

Kapil Wadhawan, as Chairman and Managing Director, exercised full investment discretion over WGC and its underlying entities. His brother Dheeraj Wadhawan served as a promoter and co-signatory on major asset decisions. The firm had no external investment committee or independent fiduciary oversight before the DHFL crisis, per court filings reviewed by the CBI.

Wadhawan Global Capital and DHFL were controlled by the same promoter family under Kapil and Dheeraj Wadhawan. The family office held stakes in non-lending businesses while DHFL operated as a deposit-taking housing finance company. Investigators have alleged that funds were routed from DHFL to WGC-linked entities through layered transactions involving shell companies.

The two primary portfolio companies, Aadhar Housing Finance and Avanse Financial Services, were sold through insolvency proceedings. Blackstone Group acquired Aadhar Housing Finance, and Warburg Pincus purchased Avanse Financial Services. The proceeds were directed to DHFL creditors, not the promoter family, as part of India's Insolvency and Bankruptcy Code resolution.