DHFL diverted Rs 12,773 cr to 79 shell cos via 1L fictitious persons

New Delhi: The Enforcement Directorate has now claimed that Dewan Housing Finance Limited (DHFL) allegedly diverted funds amounting to around Rs 12,773 crore to 79 shell companies purportedly linked to its promoters by recording it in their books as loans given out to 1 lakh individuals. The financial probe agency, which is looking into the role of DHFL and its directors in a money laundering case related to the purchase of three Mumbai properties from late drug lord Iqbal Mirchi, said that the huge amount of alleged diversion of funds came up when transactions related to loans given by the non-banking financial company to five other companies were being probed.

Promoter Kapil Wadhwan was arrested by the ED in the case days ago and remanded to the agency's custody for questioning. The agency in its remand papers for Wadhwan had claimed that the Wadhwans had used a front company called Sunblink to hide the money trail in the deal for three of Mirchi's properties in Worli, Mumbai - Sea View, Mariam Lodge and Rabia Mansion.