Discover and read the best of Twitter Threads about #LooteraDewan

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What are shell companies? These shells are in groups each of which has common owners, common addresses, common email IDs and common directors
The 45 shell companies that received Rs 14,000 crore. In 2015-16, Modi govt cracked down on shell companies following a recommendation by Indian SIT on black money
Shell cos have nominal capital of 1 lakh, but inter-company loans of thousands of crore of rupees. The loans are advanced in single-tranche while most loans are disbursed in multiple tranches based on project progress.
Read 9 tweets
#Breaking: Thread on the Anatomy of India’s biggest financial scam—Rs 31,000 cr, (not a notional value but actual, public money). Cobrapost Investigation reveals major financial scam by an NBFC, bigger than Mallya or NiMo.
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Dewan Housing Finance Corporation Limited (#DHFL) has siphoned off Rs 31,000 crore into promoter companies to create private wealth through a network of shell companies. Probe reveals the NBFC under-reported Rs 20-cr donation to @BJP4India
Dewan’s financial credentials: Rs 8,700 crore net worth, Rs 96,000 crore money raised through loans and public deposits.
Read 8 tweets

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