Earlier today, Cobrapost hosted a press conference where it dropped the bombshell on its latest investigation: that the primary promoters of a Non-Banking Financial Company (NBFC) called Dewan Housing Financial Limited (DHFL) siphoned more than ₹31,000 crore of public money. It claimed this mammoth undertaking happened through insider trading, SAST violations, offshore private wealth creation and even by avoiding tax on offshore transactions.
Cobrapost alleged this was pulled off mainly by sanctioning and disbursing astronomical amounts in secured and unsecured loans to dubious shell and pass-through companies—all of which are related to DHFL’s primary stakeholders: Kapil Wadhawan, Aruna Wadhawan and Dheeraj Wadhawan.
DHFL called this a "mischievous misadventure" meant to damage their reputation and goodwill. Read their statement in full in the link below.
Link: https://www.newslaundry.com/2019/01/29/cobrapost-expose-finds-dhfl-promoters-siphoned-over-rs31000-crore-of-public-money
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