DHFL says ED questioned senior officials

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Published: October 22, 2019 1:56:14 AM

The company, in earlier clarifications, stated that it had in the normal course of business funded projects of various companies in and around Mumbai, but never directly to Sunblink, a realty firm with alleged links to the Iqbal Memon.

DHFL, ED, Dewan Housing Finance Corporation, DHFL news, DHFL share, NBFC, Enforcement Directorate, Sunblink The total liabilities of DHFL stood at Rs 83,873 crore as on July 6.

Dewan Housing Finance Corporation (DHFL) said that the Enforcement Directorate (ED) had questioned senior officials of the company. The company issued a statement in response to reports of the ED investigating loans given by the non-banking financial company (NBFC) to a realty firm with links to criminal Iqbal Memon.

“Officers of the Enforcement Directorate visited one of the offices of the company and had raised certain queries to the senior of the company. The company has provided the necessary documents and clarifications as required by the department as part of their investigations and remains committed to co·operate with the authorities and respond to any queries by them,” the company said in an exchange filing on October 20.

The company, in earlier clarifications, stated that it had in the normal course of business funded projects of various companies in and around Mumbai, but never directly to Sunblink, a realty firm with alleged links to the Iqbal Memon. “The dues of Rs 2,186 crore comprise the principal amount and the interest payable on the principal sum. On account of certain corporate actions undertaken with/by Sunblink, as on date, Sunblink is mentioned as a borrower. The amounts were never lent to Sunblink as alleged in the media,” DHFL had stated.

“Due to market conditions, the borrowers had streamlined their internal operations whereby they have by certain corporate actions undertaken recently merged certain of their companies into Sunblink. As a result, as on date, Sunblink is mentioned as a borrower,” the company had said in an exchange filing last week. “DHFL actions have been only to enhance its security cover and cash flow receivables on the lending.” DHFL started defaulting on payment obligations earlier this year. The total liabilities of DHFL stood at Rs 83,873 crore as on July 6.

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