DHFL crisis: Govt orders SFIO probe into financial fraud charges against debt-laden mortgage lender, 5 other real estate firms
The debt-ridden DHFL came under the scanner in the wake of allegations that the company had siphoned off Rs 31,000 crore worth bank loans through layers of shell entities.
DHFL audit firm TP Ostwal & Associates likely to come under scanner of SEBI, RBI after giving clean chit to company
KPMG, which carried out the forensic audit, has submitted a draft report to the lenders, which has reportedly found the DHFL promoters had diverted nearly Rs 20,000 crore to its related entities.
Shares of Dewan Housing Finance Corporation Ltd (DHFL) zoomed 11 percent on Wednesday after a report by a chartered accountancy firm said there are no indications to confirm allegations that the company has created shell companies to divert funds
Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate
Mallya could perhaps have avoided the ordeal had he chosen to stay back and fight the case. Even now, Mallya owes several months of salary dues to his employees, which has added to the public resentment against him.
According to the third edition of Deloitte India Banking Fraud Survey released on Sunday, about 84 percent of survey respondents pointed to a substantial rise in fraud incidents.
That Amrapali auditors turned a blind eye to its management’s shenanigans for a quid pro quo, makes it a Satyam redux.
Insolvency code tightened: President okays ordinance, barring defaulters from bidding for stressed assets
The amendments aim to keep-out such persons who have wilfully defaulted, are associated with non-performing assets, or are habitually non-compliant and, therefore, are likely to be a risk to successful resolution of insolvency of a company.
Sebi will coordinate with other regulators and govt agencies, while information would be sought from foreign regulators if required
It is alleged that the loan was sanctioned in violation of norms regarding credit limits.
Chances of the banks getting back their dues appear less and ultimately, it is the taxpayers who bear the brunt
Shares of United Spirits fell 1.65 percent to Rs 3,205.95 on the BSE
Unfortunately going by the history of our government investigating agencies, a quick outcome is expecting too much from them
Mallya’s game is up, at least in USL
If so a disgorgement order can be passed under the company law on Raju and others