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DHFL used software to mask funds diverted: ED
Mint New Delhi
|May 30, 2025
Dewan Housing Finance Corp. Ltd (DHFL) had developed a software that automatically split hundreds of crores diverted to its real estate arm into thousands of retail loans to mask the diverted amounts from banking regulators, according to the Enforcement Directorate's (ED's) charge sheet into the ₹34,614-crore bank loan fraud case linked to the company.
The probe has revealed that DHFL promoters Kapil and Dheeraj Wadhawan diverted around ₹11,548 crore from DHFL to 87 fictitious entities —called Bandra Book firms— for business purposes and personal use.
Dit verhaal komt uit de May 30, 2025-editie van Mint New Delhi.
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