DHFL news: DHFL's fake branch used to siphon money, says ED

Synopsis
Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers and had been created to siphon off Rs 12,000 crore, according to information obtained by the Enforcement Directorate from DHFL senior executives.
CMD Kapil Wadhawan also had a customised FOXPRO software, in which when they entered a disbursed loan amount, it would create thousands of bogus homebuyers with fake details to adjust the amount against their names.
(This story originally appeared in
on Feb 16, 2021)MUMBAI: Promoters of Dewan Housing Finance Corporation Ltd (DHFL) had opened a fictitious branch in Bandra which boasted of over two lakh dummy homebuyers and had been created to siphon off Rs 12,000 crore, according to information obtained by the Enforcement Directorate from

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