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DHFL promoters booked for India's biggest banking scam

DHFL promoters booked for India's biggest banking scam

CBI books DHFL promoters in what is being called as India's biggest banking fraud. The FIR alleges that the accused entered into a criminal conspiracy to cheat a consortium of 17 banks. According to the complaint, DHFL Chairman Kapil Wadhawan and others induced the banks to sanctions loans aggregating 42,871 crore rupees. Of these, a significant portion was reportedly siphoned off and misappropriated by falsifying books causing banks a wrongful loss of 34,615 crore rupees. The company was purchased via the bankruptcy court last September by Piramal Enterprises.