DHFL developed software to mask funds diverted: ED
Mumbai, May 30 -- Dewan Housing Finance Corporation Limited (DHFL) had developed a software that automatically split hundreds of crores diverted to its real estate arm into thousands of retail loans to mask the diverted amounts from banking regulators, according to the ED's charge sheet into the Rs.34,614-crore loan fraud case.
The probe has revealed that DHFL promoters Kapil and Dheeraj Wadhawan diverted around Rs.11,548 crore from DHFL to 87 fictitious entities for business purposes and personal use, the charge sheet said. P8...
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