Business Standard

DHFL diverted Rs 31,000-crore loans to promoter firms, says Cobrapost

Cobrapost said its revelations were not based on whistle-blowers documents but a result of its research

realty, real estate
Premium

According to the Cobrapost expose, DHFL, which has a net worth of ~8,700 crore, raised ~96,000 crore through loans and public deposits

Somesh Jha New Delhi
Media outlet Cobrapost on Tuesday alleged Dewan Housing Finance Corporation (DHFL) had diverted loans worth Rs 31,000 crore — a charge the company termed “mischievous”. 

The stocks of DHFL, a non-banking financial company, went down more than 8 per cent to close at Rs 170.05.

“DHFL has siphoned off Rs 31,000 crore into promoter companies to create private wealth through a network of shell companies,” said Cobrapost, which held a press conference here on Tuesday.

According to the Cobrapost expose, DHFL, which has a net worth of Rs 8,700 crore, raised Rs 96,000 crore through loans and public deposits. 

Cobrapost

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 30 2019 | 1:42 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com