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Cobrapost exposes India's biggest corruption scandal with Rs 1 lakh crore public money given to DHFL & donated Rs 20 crore to BJP

Speed News Desk | Updated on: 29 January 2019, 16:28 IST
Cobrapost Expose

In what seems to be one of the biggest financial scam, news portal Cobrapost has exposed that the DHFL had spent public money of Rs 1 lakh crore and even donated Rs 20 crore to the ruling BJP.

The scam, which happened through the route of loans and advances given to shell companies of the in advance and other means as well. Money has been spent through dubious companies which are located outside India as well.

Shah Rukh Khan is the brand ambassador of DHFL and the group.

The biggest victim in the expose has been the Indian banks namely Punjab National Bank, Axis Bank, ICICI Bank.

In a together, these banks have been conned off with over Rs 96,880 crore. The banks are mostly public sector with exceptions of Kotak, ICICI, HDFC and Axis Bank. State Bank of India issued Rs 11,650 crore while Bank of Baroda and Bank Of India have given more than Rs 4,000 crores each.

Another big announcement of today’s expose by Cobrapost is the donation made by a group of companies belonging to DHFL to the ruling Bhartiya Janta Party. In total, companies owned by the DHFL have donated Rs 19.6 crore to the BJP. One of the subsidiaries, RK Developers, had hidden their donation of Rs 9.93 crore made to the BJP in their balance sheet.

By extending loans to the shell companies, the Non Performing Assets of the bank will certainly be increasing and a huge debt has already taken over Indian banks which has crossed over Rs 11,000 crore.

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First published: 29 January 2019, 16:28 IST
 
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