DHFL, accused of committing India’s biggest banking scam, was busy donating crores to BJP.
Hyderabad: According to a report by Telangana Today, the Dewan Housing Finance Corporation (DHFL), which is suspected of committing India’s largest banking fraud totaling Rs 34,615 crore, was busy making big donations to the BJP through both the corporation and its affiliated businesses. According to public records, the firm gave the federal government’s ruling party more than Rs 27.5 crore between 2014 and 2015.
Although the BJP had publicly announced these donations in accordance with the rules of the Election Commission of India (ECI), they were not recorded in the balance sheets of the aforementioned corporations in the mentioned years. According to the records that are accessible, the BJP declared receiving donations from RKW Developers Limited, which is owned by the promoters of DHFL, in the amount of Rs 10 crore in 2014–15.
The BJP also received an additional Rs 10 crore from Wadhawan Global Capital Limited, whose directors include Kapil Wadhawan and Dheeraj Wadhawan, the DHFL promoters who are allegedly involved in the DHFL fraud. In 2019, the money was given to the BJP. Darshan Developers, which is also thought to be governed by the Wadhawan family, transferred an additional Rs 7.5 crore to the BJP.
Following a sting operation carried out by the Cobrapost website in 2019, the DHFL scam was discovered. In a recent lawsuit, the Union Bank of India claimed that between 2010 and 2018, the DHFL had obtained loans totaling Rs 42,871 crore from an association of 17 banks. It said that starting in 2019, the business began missing payments. The promoters are accused of syphoning off and swindling money by altering DHFL’s books and deceitfully failing to pay the lawful debts owed by the aforementioned association, resulting in a loss of Rs 34,615 crore to the association’s 17 banks.
“Wadhawans gave the BJP significant donations through numerous businesses. Kapil Wadhawan, who is accused of bank fraud, transferred Rs 10 crore in 2019.” Manne Krishank, the head of the Telangana State Mineral Development Corporation, questioned, “What is the connection between the bank fraud and the BJP?”
Fund Flow In Brief
- In 2014–15, RKW Developers Limited, which is owned by the DHFL promoters, gave the BJP Rs 10 crore.
- Received the amount from Wadhawan Global Capital Limited, whose directors are DHFL promoters Kapil and Dheeraj Wadhawan.
- Darshan Developers, which is thought to be under the influence of the Wadhawan family, transferred Rs 7.5 crore to the BJP.
- According to allegations made by Union Bank of India, DHFL received loans of Rs 42,871 crore from a group of 17 banks between 2010 and 2018.
- Began missing payments as of 2019.
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