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Jaswanth Jegan

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“How DHFL Founder steal investors money” Big Fat Corporate Scandal #4 DHFL’s Promoters Scam Dewan Housing Finance Corp LTD was one of India’s largest housing finance companies engaged in providing loans for housing and real estate projects.DHFL had borrowed from various banks and financial institutions and raised money by bonds. Then transfered the money into shell companies related to its promoters and used for personal gains and to finance other businesses in the name of loan for real estate projects.By 2018 DHFL started to default loans to its lenders and bond investors. A report by Cobrapost accused DHFL of siphoning off over ₹31,000 crore through various shell companies then ED and CBI launched investigations into allegations of money laundering and financial fraud against DHFL’s promoters. Top executives including Kapil and Dheeraj Wadhawan were arrested and charged with various offenses.Then RBI referred DHFL to NCLT and filed bankruptcy.

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