Capital markets regulator Sebi on Thursday sent demand notices to Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), asking them to pay Rs 10.6 lakh each in a case concerning flouting of disclosure norms.
Also, the regulator has warned them of arrest and attachment of assets as well as bank accounts if they fail to make the payment within 15 days, according to two separate notices.
The demand notices came after the Wadhawans failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in July 2023.
The regulator imposed a fine of Rs 10 lakh each on Wadhawans, who were promoters of DHFL (now known as Piramal Finance), for flouting disclosure norms.
Kapil Wadhawan was the Chairman and MD of DHFL, while Dheeraj Wadhawan is the brother of Kapil and was a non-executive director in the company. Both of them were on the board of DHFL.
The order came after Sebi conducted an investigation into the transfer of .

The recent market rally that lasted till earlier this week has the margin funding book of brokers nearly soaring 90 per cent Rs 54,537 crore as of January 16, a lifetime high for the segment, show the data from the exchanges and a research report.
The margin funding, wherein an investor pays 25-35 per cent of the stock value he or she buys and the rest is paid by brokers for a monthly interest of 12-15 per cent, stood at Rs 29,000 crore for the whole of January 2023 but jumped to Rs 54,537 crore as of January 16, 2024.
The market rally also had the cash segment of the market jumping to a record 25 per cent in December 2023, according to an analysis by Icra Ratings.
With the recovery in secondary market returns from Q2FY24, the margin trade funding (MTF) book of brokers in general and especially those led by banks, has been achieving new highs. The aggregate industry-wide MTF exposure soared 98 per cent from March 2023 when it was Rs 26,000 crore to Rs 51,000 crore in December 2023,

“It is a good day for EU citizens and businesses, but bad day for oligarchs and terrorists,” said Eero Heinaluoma, one of lawmakers who took part

KRN Heat Exchanger and Refrigeration Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO).
The initial share sale is entirely a fresh issue of 1.93 crore equity shares with no Offer for Sale (OFS) component, draft red herring prospectus (DRHP) filed with Sebi showed on Thursday.
Funds will be used for investment in wholly-owned subsidiary KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Alwar, in Rajasthan.
The company manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry.
According to the Dun and Bradstreet Research Report, the Indian market for heat exchanges reached USD 625 million per annum in 2022, with an annual industry turnover increasing by a CAGR of 10 per cent between 2019 and 2022.
Holani Consultants is the sole book-running lead manager to the issue.