DHFL bidders turn jittery as auditors expose holes in company's books

The new management, led by RBI-appointed administrator, has said till forensic audits and probes by CBI and ED are over, it won't be able to present a clear view of financial data of the company

The potential bidders of bankrupt housing finance firm Dewan Housing Finance Corporation (DHFL) are a nervous lot. The auditor’s report for 2019-20 (FY20) has warned of gaping holes in the company’s books.

The new management, led by a Reserve Bank of India appointed administrator, has indicated it will not be able to present a clear view of the financial data of the company till the forensic audits and investigation by the Central Bureau of Investigation and the Enforcement Directorate are not over.

On February 17, DHFL lenders had received expressions of interest from 24 companies for DHFL’s three separate loan portfolios. KKR,