In the DHFL scam, Grant Thoron submitted a preliminary report of 98 pages. Many important things about the scam have come out from this report. It explains how loans were issued in the name of fake companies at a low interest rate. The relationship of borrowers has also been found with DHFL promoters.
Mumbai. Grant Thortan has submitted a forensic report regarding the Divan Housing Finance Limited scam (DHFL Scam). This report has revealed that hundreds of fake loan accounts were created and deposited in its name by a fake company in Bandra, Mumbai. A demand of Rs 14,046 has been made for its bar recovery. This report has been submitted to the Administrator appointed by RBI on August 27. In January this year, the promoters of DHFL Kapil Wadhwan and Dheeraj Wadhwan were arrested. At present, both are out on bail.
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This report highlights how fake housing loans were taken in the name of borrowers. For taking fake loans, all the details were collected on the basis of the database of closed loan accounts.
Loans issued without security or collateral,
between 2007 and 2019, a total of 2,60,315 fake home loan accounts were created. After this, 11,755.79 crore deposits were made in Bandra’s company. In the final report, information about 91 such fake units has come out. It was also learned that before the issuance of these loans, no security or collateral was granted.
34 units invested the amount received, of which 50 financials got 70% of the total amount. It was he who collaborated with DHFL Promoters and borrowers. It has been told in this report that 34 units have invested some part of this amount. All fake loans from DHFL promoters
According to the information given in this report by Grant Thorton, the amount of these fake loans is related to the promoters. It has been said that these loans are directly or indirectly linked to both the promoters. There have been many cases where the loan issued is related to the promoters.
Many borrowers got loans at the same address and low interest rate Many borrowers
used the same address to take a loan and they were also charged interest at a very low rate. Due to all these reasons, DHFL has faced insolvency crisis. In many cases a link to Bandra’s unit is found. Directors or promoters of some of these companies have been relatives of Wadhwa Brothers.
RBI appointed Administrator has also said in his report that the funds released to the Bandra Book Unit are related to the Director / Promoters of DHFL. This unit was made a medium for all fraud activities.
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