DHFL routed 31,000/- Crores : Cobra Post

Internet Desk :Nonprofit journalism company Cobrapost has made sensational allegations against Diwan Housing Finance Corporation (DHFL) by press conference on Tuesday. According to the moneycontrol website , Cobrapost alleged that the primary promoters of DHFL forged Rs 31,000 crore from the public.

Dewan’s financial credentials: Rs 8,700 crore net worth, Rs 96,000 crore money raised through loans and public deposits. pic.twitter.com/UGH2gQzteV
— Cobrapost (@cobrapost) January 29, 2019

The company said that money was used to buy shares, equity and other private properties. All this happened in India, UK, Dubai, Sri Lanka, Mauritius. Cobrapost alleged that DHFL’s funds of Rs 21,477 crore were transferred to many shell companies as loans and investments. In these cases the Ministry of Corporate Affairs did not make any announcement.

Here is a single infograph that explains what Cobrapost has unearthed about #LooteraDewan. pic.twitter.com/0SQqEBSePe
— Cobrapost (@cobrapost) January 29, 2019

Cobrapost alleged that the non-banking financial corporation (NBFC) donated nearly 20 million rupees to the ruling Bharatiya Janata Party (BJP). Cobrapost claimed that RKW Developers Pvt Ltd, Skill retailers Pvt Ltd and Philosophical Developers Pvt Ltd were given 19.5 crores to BJP in 2014-15 and 2016-17. All these were linked to Donor Wadhawan.

The 45 shell companies that received Rs 14,000 crore. In 2015-16, Modi govt cracked down on shell companies following a recommendation by Indian SIT on black money#LooteraDewan pic.twitter.com/A0DqQiTk6d
— Cobrapost (@cobrapost) January 29, 2019

RKW developers did not show any donations in their balance sheet in 2014-15. Similarly, skill retailers donated Rs 2 crore in 2014-15 but did not show it in their balance sheet. These claims were made by Cobrapost. After the Cobrapost press conference, news of DHFL’s share falling 8 percent has come to light.