 "DHFL")
The Enforcement Directorate’s (ED) preliminary enquiry has pointed at misappropriation of funds to the tune of Rs 25,000 crore by the promoters of Dewan Housing Finance (DHFL) in the alleged financial fraud.
Earlier, ED had suspected DHFL of diverting Rs 12,773 crore of loans to 79 “shadowy’’ companies allegedly associated with its promoters Kapil Wadhawan and Dheeraj Wadhawan between 2010 and 2015. Officials said they had come across at least a dozen new transactions involving DHFL and the Wadhawan brothers, implying that the fraud was much larger than estimated earlier. The transactions included price rigging of DHFL shares by the promoters
