CBI books DHFL promoters for fraudulent practices; Share price hits lower circuit
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Dewan Housing Finance Corporation (DHFL) share price hit lower circuit on March 25 after the Central Bureau of Investigation (CBI) booked DHFL promoters for creating more than 2.6 lakh fake home loan accounts.
A case was registered against Kapil Wadhawan and brother Dheeraj, who in jail over fraud and money-laundering charges, for allegedly creating 2.60 lakh fake home loan accounts under the Pradhan Mantri Aawas Yojana. The promoters fraudulently availed benefits under PMAY to the tune of Rs 14,046 crores, the agency said.
The CBI found that Rs 11,755.79 crore was diverted to these accounts created in the name of shell companies.
The stock was trading at Rs 16.75, down Rs 0.75, or 4.29 percent at 09:22 hours. It has touched an intraday high of Rs 16.75 and an intraday low of Rs 16.65.
DHFL, according to the FIR filed by CBI, processed 88,651 cases under PMAY Scheme, under which loans were granted to economically weaker sections, low and middle-income group members for buying land and construction of houses, development of dwelling units under slum development schemes, housing units are eligible for credit-linked interest subsidy.
