DHFL crisis set to linger on as forensic audit points to fund diversion

In what seems to be more trouble for mortgage lender DHFL, the lenders who are awaiting the final go-ahead for a resolution plan have hit a stonewall, after a forensic audit has reportedly found massive fund diversion by the promoters and thus are averse to lend any additional money to the crippled company.

The third-largest mortgage lender had sought a Rs 15,000-crore lifeline from the lenders as they finalise the resolution plan, which may also include picking up 51 per cent equity in the company by converting their debt into equity.

KPMG, which has carried out the forensic audit, has submitted a