Read more about DHFL auditor unearths another fraudulent transaction worth Rs 6,182 cr on Business Standard. According to findings of Grant Thornton (GT), these transactions happened over a period of time
DHFL case: Auditor Grant Thornton unearths another fraudulent transaction of Rs 6,182 cr SECTIONS Last Updated: Feb 22, 2021, 01:39 PM IST Share Synopsis The administrator of the company received an initial report from the professional agency appointed as the transaction auditor indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature , DHFL said in a regulatory filing. Agencies DHFL said the application to NCLT has been filed against 33 respondents, including Kapil Wadhawan, Dheeraj Wadhawan, Creatoz Builders, Ikshudip Fincap, Rite Developers and certain other entities. Dewan Housing Finance Corporation ( DHFL) on Monday said its transaction auditor, Grant Thornton, has reported another fraudulent transaction of Rs 6,182 crore in the company.
The administrator of the company received an initial report from the professional agency appointed as the transaction auditor indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature, DHFL said in a regul
DHFL auditor Grant Thornton reports further fraud of ₹6,182 crore Updated: Updated: Transaction auditor cites deals that were ‘undervalued, fraudulent, preferential’ Share Article Transaction auditor cites deals that were ‘undervalued, fraudulent, preferential’ Dewan Housing Finance Corporation (DHFL) on Monday said its transaction auditor, Grant Thornton, had reported further fraudulence amounting to ₹6,182 crore in the company. The administrator of the company received an initial report from the agency appointed as the transaction auditor indicating there were certain transactions that were “undervalued, fraudulent and preferential in nature”, DHFL said in a regulatory filing. “The monetary impact of the above transactions covered under the application amounts to ₹5,381.90 crore towards outstanding principal, ₹589.36 crore towards accrued interest and ₹210.85 crore towards notional loss of interest on account of charging lower rate of interest,” said the filing about the estimated impact on the company. These transactions happened over a period of time. The management of DHFL is currently being run under an administrator appointed under the Insolvency and Bankruptcy Code after frauds were detected in the company. The administrator later appointed GT as the transaction auditor to conduct an investigation of the affairs of the firm.
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