How money moved in circles in DHFL insolvency case Synopsis The link between TDH and DHFL’s insurance business follows a complex trail of transactions that show that DHFL had funded entities that in turn had financed the acquisition when DHFL divested its stake in the insurer resulting in allegations of round tripping of funds. TDH Reality LLP, a little known Kanpur-based company with a capital of just about ₹1 lakh, is, according to papers filed with the court, acted as an intermediary that ended up having the rights over the insurance arm of the DHFL, the first non-banking finance company to face insolvency and bankruptcy proceedings.