A year after it became the first finance company to undergo insolvency proceedings, Dewan Housing Finance Corp. Ltd. (DHFL) is finally moving slowly toward closure with Piramal Enterprises being voted the winner by the creditors’ committee. Certainly, the resolution is not set in stone since the losing bidders have the …
Read More »Grant Thornton Report: Fake Accounts, Fraudulent Borrowers Used to Divert Funds at DHFL, Finds Forensic Audit
Written by Ritu Sarin | New Delhi | Updated: October 5, 2020 7:05:11 am Many borrowers used common addresses and the Bandra Books entities charged a lower interest rate, all of which contributed to the insolvency crisis at DHFL. (File photo) Hundreds of fictitious loan accounts, deposits routed through an …
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