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 11 Kapil Wadhawan is the face of an unapologetic, brazen, corporate fraudsters-ridden crony capitalism in India. He is supposed to be in jail presently, having been apprehended in the alleged swindle of well over Rs30,000 crore in the company managed by him, Dewan Housing Finance Ltd (DHFL). (   The allegation of fraud and diversion of public funds surfaced in an online portal in January 2019. He was remanded to custody sometime in September to October 2019. In between, the credit rating agencies downgraded the debt securities of DHFL, independent directors resigned in March 2019, the auditors resigned in July or August 2019.    Reserve Bank of India (RBI) took control of the company by appointing an administrator and took the company to Insolvency and Bankruptcy Code (IBC) process, perhaps the first for a non-banking finance company (NBFC).

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