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ED finds ₹12,733 cr fund diversion via fake borrowers at DHFL

Jan 30, 2020 14:07 IST

The Enforcement Directorate (ED) has informed a special court for prevention of money laundering that Dewan Housing Finance Ltd diverted funds to the tune of ₹12,733 crore by using 1 lakh fake borrowers to 80 alleged shell entities. ED made these revelations during the remand hearing of chairman and managing director, Kapil Wadhawan. He was arrested on January 27. The special court on Wednesday extended his custody till January 31.