DHFL siphoned off ₹12,700cr into 79 shadowy firms :ED


Dewan Housing Finance (DHFL) diverted Rs 12,773 crore of loans to 79 shadowy companies allegedly associated with its promoters in the garb of retail loans to about 100,000 fictitious customers between 2010 and 2015, according to the Enforcement directorate (ED).
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these “nefarious transactions” by way of money laundering.
Wadhawan was arrested by the agency earlier this week in connection with the money-laundering case linked with properties involving Mirchi. He was remanded in ED custody till Friday.
“This appears to be a scam of wider ramifications wherein the preliminary investigation conducted indicates that more than Rs 12,700 crore have been diverted illegally, and the ‘orchestrator and prime conspirator’ for the scam was Kapil Wadhawan,” the ED said in its enquiry report. 

Comments

  1. Karishma palFebruary 8, 2020 at 8:12 AM

    Nice content. What do you mean by ED ? And its role in this ?

    ReplyDelete
    Replies
    1. YashFebruary 8, 2020 at 8:32 AM

      Thank you..
      The Directorate of Enforcement(ed) is a law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
      The ED had carried out raids at eight locations including the DHFL headquarters in connection with loans extended to Iqbal Mirchi's Sunblink.

      Delete
  2. GJS SIDDARTHAFebruary 8, 2020 at 8:59 AM

    Is govt. part of it ?

    ReplyDelete
    Replies
    1. YashFebruary 8, 2020 at 9:08 AM

      No government is not the part of it, but ED which is a government agency finds out this scandal.

      Delete
  3. Venkat NagarajFebruary 8, 2020 at 10:06 AM

    Nice one and Informative ..

    ReplyDelete
  4. Tanujv803February 8, 2020 at 10:08 AM

    Why ED questions CMD of DHFL Kapil Wadhawan in connection with Iqbal Mirchi case?

    ReplyDelete
    Replies
    1. YashFebruary 8, 2020 at 10:26 AM

      Because they found that kapil wadhawan is laundering money to iqbal mirchi by financing some shadowy company which is directly link to iqbal's company.

      Delete
  5. RawatFebruary 8, 2020 at 10:15 AM

    It sounds so informative thank u sir

    ReplyDelete
  6. Tanujv803February 8, 2020 at 10:21 AM

    Why Praful Patel denies links to Dawood's aide Iqbal Mirchi in Ceejay House case?

    ReplyDelete
    Replies
    1. YashFebruary 8, 2020 at 10:37 AM

      Because iqbal mirchi's wife already cleared that they don't have any link between them in Ceejay housing case.

      Delete

Post a Comment

Popular posts from this blog

Govt Proposes ₹50 Lakh Penalty, 5 Year Prison For Promoting, Endorsing Fairness Creams

Image
The Health and Family Welfare Ministry has proposed the draft amendment to the Drugs and Magic Remedies, with a stringent punishment of a jail term of up to five years and a fine of up to Rs 50 lakh for advertisements for magic remedies and drugs promoting fair skin, enhancing sexual performance, treating stammering, infertility in women, premature ageing and greying of hair among others. In 2015, NDTV had declared it would not carry any fairness cream ads.The draft amendment has made several additions to the list of diseases, disorders, conditions covered in the Act. The Act says that medicines, "magic remedies" and products to cure any of these 78 diseases, disorders, conditions named should not be advertised. The new additions include ads for drugs for improving sexual performance and skin tone and treating premature ageing, AIDS, greying of hair, stammering, sterility in women etc.  Under the Act, the first conviction is punishable with imprisonment of up to...
Read more