Published 14:55 IST, October 18th 2019
EXCLUSIVE: Republic investigation raises questions on DHFL
In a weeklong investigation carried out by Republic TV’s Special Investigation Team, another major link has unearthed in the D-company case and Wadhawans
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In a weeklong investigation carried out by Republic TV’s Special Investigation Team, another major link has unearthed in the D-company case. Our investigation reveals an unholy nexus between PMC bank accused Wadhawan and the D-Company. Let me introduce the characters of our investigation – Sunblink Real Estate Pvt Ltd and Dewan Housing Finance Corporation Ltd. To begin with, this Mumbai-based company called Sunblink Real Estate Pvt Ltd. A company that is under the scanner of the Enforcement Directorate (ED) for links with gangster Dawood’s right-hand man Iqbal Mirchi.
Following the arrest of one Haroun Aleem Yusuf and Ranjeet Singh Bindra, ED came across Sunblink Real Estate Pvt Ltd during the course of the investigation. Sunblink is accused of entering into a deal worth Rs 225 crores with Iqbal Mirchi’s close aide and Power of Attorney Humayun Merchant for three properties in Mumbai. ED has told the court that “Rs 2186 crores was received as loans on the proceeds of crime by Sunblink Real Estate Pvt Limited from an NBFC.” The agency did not name the NBFC. We dig deeper to unearth the link. It raises some uncomfortable questions for the financial giant DHFL.
A deep investigation carried out by Republic TV reveals that the rot goes deeper. We studied the balance sheet of Sunblink Real Estate Pvt Ltd. DHFL gave unsecured loan OF rS 141,306,394 to Sunblink Real Estate Pvt Ltd. It doesn’t end there. The balance sheet also reveals that Mirchi’s close aide Humayun Merchant was given Rs 50,000,000 as“advance for Land”. Another document accessed by Republic TV shows that DHFL approved “consolidation of loans along with security perfection amounting to Rs 2,186 crores” to Sunblink Real Estate Private Limited. Interestingly, this same amount – Rs 2,186 crores – given to Sunblink as loan has been questioned by ED. In fact, the agency has told the court that they suspect that this amount was used for terror activities.
Republic asks whether “DHFL was willy nilly, knowingly or unknowingly, consciously or unconsciously, deliberately or mistakenly financing a company with a history of dealing with D-gang.” Minutes after the newsbreak, DHFL responded but never denied that they gave the loan to a company that had shady links with the D-gang.
14:35 IST, October 18th 2019