Govt Trains Its Guns On Realty Sector; Orders SFIO Probe Against These 5 Real Estate Companies

New Delhi: A whole host of real estate firms will undergo a probe by Serious Fraud Investigation Office (SFIO) into their accounts. The government has ordered SFIO probe into RKW Developers, Tenancity Real Estate, Immediate Real Estate, Rajen Skycraper and Darshan Developers.

The SFIO will probe these five companies apart from Dewan Housing Finance (DHFL).

“The investigation of DHFL and five others have been assigned to the SFIO on November 6 and the time for completion cannot be indicated as of now,” Minister of State for Corporate Affairs Anurag Thakur told Lok Sabha.

An investigation by KPMG into the accounts of DHFL revealed that the promoters had diverted Rs 20,000 crore from DHFL into various companies and entities and no proper documentation as to what the funds were used for.   

Investigative journalism portal cobrapost.com had carried a story on how DHFL had created a number of shell companies and funneled money through them illegally.

menu
menu