The Bombay High Court on Thursday restrained Dewan Housing Finance Corporation Ltd (DHFL) promoters Dheeraj Wadhawan and Kapil Wadhawan from leaving the country.
The order came on a petition filed by 63 Moons Technologies seeking recovery of dues of around Rs 200 crore from DHFL.
Justice S J Kathawalla said the Wadhawans will have to seek permission from the high court if they wish to leave the country.
After the court passed the order, the DHFL counsel submitted a statement in the afternoon session that the Wadhawans will not leave the country before November 14.
The court was hearing a plea filed by Jignesh Shah-promoted 63 Moons Technologies for recovery of around Rs 200 crore which it said were due from mortgage lender DHFL, and seeking a direction that the Wadhawans should not leave the country.
DHFL had earlier told the court that the Wadhawans may have to travel abroad to raise funds.
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63 Moons raised apprehension that they may escape if allowed to leave the country.
63 Moons, which had subscribed to non-convertible debentures (NCD) of DHFL, approached the court after the latter failed to repay the money.
DHFL has challenged maintainability of the petition, arguing that trustees of bond-holders have already filed an application before the Pune bench of Debt Recovery Tribunal (DRT) for recovery of dues on behalf of debenture-holders, so this petition is redundant.
The Enforcement Directorate is conducting a probe against DHFL over alleged financial irregularities.
The court posted the plea for further hearing on November 14.