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HomeWorldIndiaCBI DHFL Books in 'Biggest' bank fraud of 34615 crores; 17...

CBI DHFL Books in ‘Biggest’ bank fraud of 34615 crores; 17 banks hit : Tribune India

PTI

New Delhi, June 22

CBI has booked Dewan Housing Finance Ltd, its own former CMD Kapil Wadhawan, director Dheeraj, Dhawan and others for bank Forgery of On Wednesday, officials said it was Rs 34,615 crore, making it the largest such case the agency is investigating.

After registration of issue on June 20 team of over 50 agency officials on I got pregnant on Wednesday out curated searches on 12 buildings in Mumbai belongs to the defendants included in the FIR list that also Include Sudhakar Shetty of Amaryllis Realtors and eight other builders.

work came on Complaint from Union Bank of India (UBI), leader of 17 member of the lender coalition who was extended Credit facilities for melody of 42,871 crore between 2010 and 2018.

The bank Allegedly Kapil, Dheeraj and Dhawan in criminal Conspiracy with Other facts have been misrepresented and concealed criminal pierce of trust and abuse public Funds to deceive the consortium tune of Rs 34614 crore in default on Loan repayment installments from May 2019 onwards.

audit of DHFL’s account books showed that the company allegedly committed financial Violations, transferred funds, fabricated books, round Funds stumbled ‘to create assets for Kapil, Dheeraj and Dhawan” using public money.

Both in Judicial custody in Connection with Previous cases of cheating against they.

DHFL Loan Accounts Not Performed assets in different points of They said about the time by the lending banks.

When was DHFL hit by investigation in January 2019 after media Reports on the allegations of Suction of Funds surfaced, lending banks held a meeting on February 1, 2019 KPMG was appointed to conduct “special review Audit” of DHFL from April 1, 2015 to December 31, 2018.

Banks also issued a circular against Kapil, Dheeraj and Dhawan on They said October 18, 2019 to prevent them from leaving the country.

UBI alleged that KPMG, in Audited, turning a red flag of funds in the dress of Loans and advances to related and related individuals and entities of DHFL and its directors.

audit of The ledgers showed 66 entities in common with Rs 29,100 crore paid to DHFL Promoters against Of which Rs 29,849 crore remained outstanding.

“Most of Transactions of These entities and individuals were in The nature of Investments in land and property bank alleged.

revealed that DHFL, in number of Cases, money spent inside one month, transferred money for investment in destinations of Shetty, loans rolled over over Without an NPA rating, reimbursement worth hundreds of Crore was untraceable in bank Unjustified statements and cessation on Principal and interest were given.

Other outstanding main in DHFL’s emerging accounts were Rs 11,909 crore out of Loans and advances worth Rs 24,595 crore was awarded to 65 entities between 1st April 2015 and 31st December 2018.

The DHFL and its promoters also Rs.14,000 crore has been disbursed as project financing but it reflects the same as retail loans in wrote them.

“This led to creation of bloated retail loan portfolio of 1,81,664 false and non-existent retail loans totaling Rs 14,095 crore outstanding.

The loans referred to as “Bandra Books” were maintained. in Separate database and merge it later with Other Large Project Loans (OLPL).

“It was revealed that the OLPL class was highly sculpted out of The above non-existent retail loans of Rs 14,000 crore, out of of which Rs 11,000 crore has been transferred to OLPL loans and Rs 3,018 crore has been retained as part of these loans of Retail portfolio as unsecured retail loans.

DHFL and its directors and CEOs continued to stress that they were trying to de-stress the company by various You know? like securitization of pool of housing loans, project Loans and divestments of Share Promoters in The company, they said.

Kapil Wadhawan continued to emphasize that the DHFL has six months of cash Liquidity will remain cash Surplus even after considering all repayment obligations, and bank alleged.

After Lenders ‘Error Confirmed’, DHFL Delays Interest Payment Obligations to terms loans in May 2019 which continued after that with The account was declared non-operating assets, they said.

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Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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