The National Company Law Tribunal (NCLT) in Mumbai has accepted Union Bank of Indias plea to commence insolvency proceedings against Dheeraj Wadhawan, the former promoter of Dewan Housing Finance Ltd (DHFL), due to the company's default of Rs 3,958 crore, for which Wadhawan provided a personal guarantee. Devendra Mehta has been appointed as the resolution professional (RP) to assess lenders' claims and Wadhawan's personal assets.