New Delhi: Transaction auditor Grant Thornton, in a report shared with the Administrator of DHFL, has found certain transactions which are undervalued, fraudulent and preferential in nature, putting the newly-discovered fraud at Rs 6,182 crore.
The Administrator of Dewan Housing Finance Company Ltd, appointed under the Insolvency and Bankruptcy Code, 2016 to carry out the duties under it, obtained assistance from reputed professional agency, Grant Thornton to conduct investigation of the affairs of the company in respect of transactions qualified under sections 43 to 51, and sections 65 and 66 of the Code.
Accordingly, 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, falling under the aforesaid sections of the Code, as per a filing.
On basis of the investigation and observations of the transaction auditor, the Administrator has filed an application before the Mumbai bench of the National Company Law Tribunal (NCLT) under Section 45, Section 60(5) and Section 66 of the Code on February 20, 2021 in respect of disbursement made to certain entities as other large project loans (OLPL), against Kapil Wadhawan, Dheeraj Wadhawan, Creatoz Builders Pvt Ltd, Ikshudip Fincap Pvt Ltd, Rite Developers Pvt Ltd and certain other entities. It is to be noted that further filings may be undertaken, in due course.
