Published 14:09 IST, October 18th 2019
DHFL states 'never lent Sunblink' over ED probing NBFC funding D-gang
Dewan Housing Finance Corp Ltd. (DHFL), on Friday has vehemently denied the allegations with Sunblink, as EDprobes into NBFC funding over 2000 crores to D-gang
Responding to the Enforcement Directorate (ED)'s investigation into the nonbanking financial company had allegedly routed Rs. 2186 crores to Dawood's aide Iqbal Mirchi via Sunblink, Dewan Housing Finance Corp Ltd. (DHFL), on Friday has vehemently denied the allegations. DHFL further stated that they had funded certain projects of various companies. It further stated that borrowers had merged its entities as part of internal operations into Sunblink. DHFL stated that the amounts mentioned were not lent to Sunblink.
DHFL response to Sunblink links
"As regards the transaction in Question DHFL had funded certain projects of various companies. 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 amounts mentioned were not lent to Sunblink as alleged in the article. DHFL actions have been only to enhance its security cover and cash flow receivables on the lending," stated DHFL.
Here is the entire statement:
ED investigation into D-gang
As per reports, ED is currently investigating the business dealings of the entire D-Company, particularly into international Iqbal Memon alias Iqbal Mirchi. Reports state that ED has revealed a nonbanking financial company had started giving loans to Sunblink from 2010. According to the investigations, ED reportedly believes that Rs. 2186 Crores was allegedly routed overseas by Sunblink into the accounts of Iqbal Mirchi. The ED has not named DHFL as the NBFC in question.
Republic TV's sting on D-Gang
Meanwhile, Republic Media Network's sensational sting has exposed the D-Gang's operations and continued control over the Mumbai property market. Republic's sting entails Mumbai-based developer Jayant Soni narrating how he had embarked upon a deal over property owned by a trust that it emerged was linked to the D-gang and Dawood aide Iqbal Mirchi.
As per Soni's divulgences, he was unceremoniously shunted out of the deal when another developer - Sunblink - entered the fray with a larger offer, despite Soni having entered into an MoU. On his being removed from the deal, Soni claimed that Mirchi, whom he had met via an intermediary Humayun Merchant, himself asked him to "get out" of the deal. Sunblink is also being probed by the ED over a loan in excess of Rs 2100 crore given to it by an NBFC.
Updated 15:16 IST, October 18th 2019