ED Seizes Rs 70 Cr Assets of DHFL Promoters" (50 characters)

01 Nov 2023 CW Team

DHFL, a non-banking financial company, has been under scrutiny for alleged financial irregularities and misappropriation of funds. The investigation against its promoters began after the company defaulted on its loan repayments in 2019.

The ED's move comes as part of its ongoing probe to trace the alleged proceeds of crime and unearth the money trail involved in the alleged irregularities. The attachment of assets is aimed at preventing the promoters from disposing off the properties and proceeds derived from illegal activities.

According to sources, the investigation revealed that the accused promoters allegedly diverted funds received from financial institutions through fictitious loan accounts and the proceeds were further used for personal purposes and investments in benami properties.

The attachment of assets is a significant step towards recovering the defrauded funds as it allows the authorities to confiscate the properties identified as proceeds of crime. Once the case reaches its conclusion, the confiscated assets will be liquidated and the proceeds will be utilized to settle the liabilities of DHFL.

The ED has been actively investigating cases of money laundering and financial irregularities across various sectors. Its efforts are primarily focused on tracking and seizing the proceeds derived from illegal activities, ensuring that the fraudsters face the consequences of their actions.

DHFL's case, being one of the major allegations of financial irregularities, highlights the need for stricter regulation and monitoring in the financial sector. The ED's actions serve as a deterrent for potential wrongdoers, sending a clear message that illegal activities will not go unnoticed or unpunished.

As the investigation progresses, more details regarding the alleged misappropriation of funds and involvement of other parties are expected to emerge. The attachment of assets by the ED reaffirms its commitment to bringing the culprits to justice and recovering the funds for the benefit of affected stakeholders.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Enforcement Directorate (ED) has attached assets worth over Rs 70 crore belonging to the promoters of Dewan Housing Finance Corporation Limited (DHFL) in relation to a money laundering case. The attached assets include residential and commercial properties in Mumbai valued at Rs 65.75 crore and balances in bank accounts worth Rs 6.28 crore. DHFL, a non-banking financial company, has been under scrutiny for alleged financial irregularities and misappropriation of funds. The investigation against its promoters began after the company defaulted on its loan repayments in 2019. The ED's move comes as part of its ongoing probe to trace the alleged proceeds of crime and unearth the money trail involved in the alleged irregularities. The attachment of assets is aimed at preventing the promoters from disposing off the properties and proceeds derived from illegal activities. According to sources, the investigation revealed that the accused promoters allegedly diverted funds received from financial institutions through fictitious loan accounts and the proceeds were further used for personal purposes and investments in benami properties. The attachment of assets is a significant step towards recovering the defrauded funds as it allows the authorities to confiscate the properties identified as proceeds of crime. Once the case reaches its conclusion, the confiscated assets will be liquidated and the proceeds will be utilized to settle the liabilities of DHFL. The ED has been actively investigating cases of money laundering and financial irregularities across various sectors. Its efforts are primarily focused on tracking and seizing the proceeds derived from illegal activities, ensuring that the fraudsters face the consequences of their actions. DHFL's case, being one of the major allegations of financial irregularities, highlights the need for stricter regulation and monitoring in the financial sector. The ED's actions serve as a deterrent for potential wrongdoers, sending a clear message that illegal activities will not go unnoticed or unpunished. As the investigation progresses, more details regarding the alleged misappropriation of funds and involvement of other parties are expected to emerge. The attachment of assets by the ED reaffirms its commitment to bringing the culprits to justice and recovering the funds for the benefit of affected stakeholders.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..