DHFL diverted 12,773 cr to 79 companies via fictitious clients
he Enforcement Directorate (ED) has found diversion of Rs 12,773 crore from Dewan Housing Finance Ltd (DHFL) to the accounts of 79 companies routed through one lakh fictitious retail customers as loans, sources said. The agency found that the loans were diverted between 2011 and 2016 and the 79 companies were allegedly associated with the promoters of DHFL. The corrupt practice came to ED's notice when the agency inspected the book of accounts of DHFL pertaining to Rs 2,186 crore loan given to five companies -- Faith Realtors Pvt Ltd, Marvel Township Pvt Ltd, Able Realty Pvt Ltd, Poseidon Realty Pvt Ltd and Random Realtors Pvt Ltd, which were later amalgamated with Sunblink Real Estate Pvt Ltd. Later, the ED stumbled upon one lakh allegedly fictitious retail customers and got inputs regarding 79 beneficiary companies, said sources. The ED found out that Sunblink Real Estate bought three Worli-based properties allegedly belonging to late gangster Iqbal Memon alias Iqbal Mirchi for Rs 225 crore. The revelation came days after the ED arrested Kapil Wadhawan, the promoter of DHFL, for alleged money laundering linked to properties belonging Mirchi. Wadhawan, who is the fifth arrest in the case filed last year, is claimed to have played a 'crucial role' in diverting funds from DHFL to shell companies, which later got amalgamated with Sunblink Real.
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