Transaction Auditor Grant Thornton has found some transactions in DHFL that are fraudulent. In this, fraud of Rs 6,182 crore has been revealed. The Piramal Group will acquire DHFL for Rs 34250 crore.
Ajay Piramal, brother of the country’s richest man and owner of Reliance Industries (RIL) Mukesh Ambani (Mukesh Ambani), will buy DHFL, a debt-ridden 84,000 crore debt. The acquisition of DHFL has also been approved by the Reserve Bank of India (RBI). After the approval of the takeover, there has been a big disclosure in the DHFL case. Transaction Auditor Grant Thornton, in a report shared with the DHFL administrator, found some transactions that were fraudulent. In this, fraud of Rs 6,182 crore has been revealed.
The administrator of the Dewan Housing Finance Company Limited ((DHFL) received assistance from reputed professional agency Grant Thornton to investigate the affairs of the company in relation to the transaction. Sections 43 to 51 and 65 of the Insolvency and Bankruptcy Code (IBC), 2016 And under 66, the transaction was approved.
Explain that the administrator of Dewan Housing Finance Company Limited has been appointed to perform the duties under the Insolvency and Bankruptcy Code, 2016. Accordingly, the company’s administrator received a preliminary report from a professional agency appointed as a transaction auditor, indicating that there are some transactions that are undisclosed, fraudulent and preferential in nature.
Piramal Group to acquire DHFL for 34,250 crores
The Piramal Group has received approval from the Reserve Bank of India to acquire DHFL for Rs 34,250 crore. The deal has already been approved by the DHFL Creditors’ Committee (COC). The CoC had approved the solution plan of Piramal Capital and Housing Finance Limited, a Piramal Group company last month. Let us know that Ajay Piramal, owner of Piramal Group, is close to the country’s richest man and owner of Reliance Industries (RIL) Mukesh Ambani (Mukesh Ambani).
Rs 6,182 crore transaction disclosed
On the basis of investigation and review of the Transaction Auditor, the Administrator has filed an application on 20 February under Section 45, Section 60 (5) and Section 66 before the Mumbai Bench of the National Company Law Tribunal (NCLT).
As per the preliminary estimate in the application, the monetary impact of the related transaction is about Rs 6,182.11 crore. All relevant details related to these proceedings have been included in the application filed before the National Company Law Tribunal, Mumbai and are currently under consideration.
DHFL owed Rs 83,873 crore
In July 2019, DHFL owed banks Rs 83,873 crore. Of this, State Bank of India has the largest outstanding of Rs 10,083 crore. The company’s assets in March 2020 were Rs 79,800 crore. Of this, 63 percent was NPA.
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