Cobrapost accuses DHFL promoters of siphoning off Rs 31000 crore:- The Search Journalism Website has accused DHFL of dumping 31 thousand crore rupees. After this allegation of the website, the company’s stock has seen a tremendous drop of the percent. However, after some recovery, it closed with a decline of 8 percent.
Cobrapost accuses DHFL promoters of siphoning off Rs 31000 crore
In the stock market, DHFL’s shares saw a sharp decline of 11 percent on Tuesday. This fall in the company’s stock came after the allegations made by the Cobrapost website for investigative journalism after a fraud of rs 31 thousand crores on promoters of the company
Cobrapost accuses DHFL promoters of siphoning off Rs 31000 crore, Cobrapost has claimed that the primary promoters and their subsidiaries of DHFL together caused the fraud to dump 31 thousand crore rupees of people. According to the website, these scam mask companies have been given a huge amount in the form of secured and unsecured loans. These companies belong to their primary stakeholders of DHFL. In the report, names of Kapil Bardhaman, Aruna Vrindavan and Dheeraj Wadhawan have been named.
On Tuesday, the company’s stock dropped by 11% to the lowest level of Rs 164.50. Later, the stock of the company rose slightly and closed at 8.15 percent at Rs 170.05. “By providing loans to mask companies, DHFL ensured that recovery of these loans would be impossible because their directors do not own any property,” COBRAPOST said.
Cobrapost accuses DHFL promoters of siphoning off Rs 31000 crore- In this way, this scam will only cause loss to public depositors, public sector banks such as SBI and Bank of Baroda, as they have given loans of Rs 11 thousand crore and Rs 4 thousand crores respectively to DHFL, respectively. Some foreign banks and public shareholders/investors have also given loans to DHFL, The website said.
Aniruddha Bahal said that the Cobrapost did not investigate whether DHFL is regularly giving its loan to various banks and financial institutions. DHFL shares fell 8 percent in late afternoon trade after the results of Cobrapost fell on its website.
Cobrapost, known for its sting operation, also alleged that DHFL donated nearly Rs 20 crores to the Bharatiya Janata Party through a network of advanced firms which are connected to Wadhawan. “When we advance money for people or projects, it is a matter of concern for us whether money will be repaid on time and whether sufficient security for us to reassign the property and settle it and recover our outstanding amount “Wadhawan.