PRESS RELEASE 30January 2019 | New Delhi Statement Issued by Smt Priyanka Chaturvedi, Convener, Communications AICC Public Money Ko Private Money Banao Yojana Gift BJP ₹20 Crore, Get ‘Return Gift’ Worth ₹31,000 Crore Systematic Decimation & Undermining of Indian Economy! Another Huge Scam of the ‘Na Khaunga Na Khaane Dunga’ infamy Modi Government has come to light. An investigation carried out by a Media House has revealed the Biggest Financial Scam the country has ever seen. It raises serious questions about the Bhartiya Janta Party and Shri Narender Modi’scommitment towards ‘Zero Tolerance’ to corruption. This fraud reveals BJP’s full acceptance of ‘Corruption’. DHFL, a Private Non-Banking Financial Company, has routed₹ Rs. 31,000 Crore of Public Funds through dozens of ‘Shell Companies’, for ‘Personal Gains’, information of which is easily available on public platforms and Government websites such as Ministry of Corporate Affairs. The Anatomy of One More Financial Banking Fraud Dewan Housing Finance Limited (DHFL), a non-banking financial company (NBFC) which has a mind-boggling banking exposure of over ₹Rs. 97,000 Crores to 32 Indian public and private banks, according to fiscal year 2017-18 financial statements.The company has given unsecured loans worth crores to various shell Companies linked to the Promoters of DHFL. With over ₹Rs 31,000 Cr of misappropriation, DHFL went on a Merry Purchase of shares and assets of large companies in India, United Kingdom, Dubai and Mauritius, and Sri Lanka. The main partners of DHFL, the Wadhavan family, formed dozens of shell companies to execute this ‘Well Planned Scam’and divided these companies into groups, some of which were registered under the same addresswith the same group of Directors. The auditing, under the ‘Master Plan’ was also done by the Same Set of Auditors. In the name of ‘Slum Development’& ‘SlumRehabilitation’ in Maharashtra,45 of these so called ‘Shell Companies’were given loans worth a total of Rs ₹14,282 Cr without any security &ignoring necessary investigations, hence leading to creating ‘Private Wealth’ in India and abroad. Apart from this, the provisions of Mortgage or Debt Equities were also sidelined. The loan money was given as a lump sum which is against the Established Banking Rules. Loans for any project are given in view of the progress of the work done in the project, which were overlooked. Most of the Shell companies did not show the name of its lender DHFL and the loan details received in the financial statement, which again is against the Law. Using their power and influence, the promoters lent money to shell companies linked to them. These shell companies have no business or income to speak off. Many have common email addresses, they have common addresses, and common directors. A forensic audit by a national agency is needed on DHFL and all these shell companies. Significantly, these ‘Shell Companies’ have been linked to the Wadhwan Group and Sahana Group. The Sahana Group Director is also under investigation by Economic Offenses Wing of the Finance Ministry in some criminal cases & continues to be in Judicial Custody. Another prominent shareholder of Sahana Group is a Former Shiv Sena MLA, Dalvi Shivram Gopal. Apart from this, owners of DHFL company have also indulged in insider trading, which comes under the purview of SEBI. Besides this, allegations of illegally purchasing a Sri Lanka Premier League cricket team, Wayamba, abroad, selling shares of foreign companies in a non-legal way, evading taxes of hundreds of Crores of rupees has also been revealed. However, the Icing on the cake is the donation of about Rs ₹20 Crores given by the Promoters to Bhartiya Janta Party through these Shell Companies. According to documents available in public domain, RKW Developers Private Limited, Skill Realtors Private Limited and Darshan Developers Private Limited, owned by the promoters of DHFL, have given a donation of ₹19.5 crore to the BJP in 2014-15 and 2016-17 under the provisions of section 182 of relevant law companies act 2013. According to the law, before any donation, any company must be in the state of profit in three financial years, which has been violated as none of these companies was in a position to give legal donations. RKW Developers donated ₹10 Cr to BJP in 2014-15, whereas in 2012-13 the company showed a loss of₹ Rs 24,77,828.This real estate company based in Mumbai, also did not show this donation in its balance sheet. Similarly, the Realtors Company gave a donation of Rs ₹2 Cr to the BJP in 2014-15 and again did not mention the same in its balance sheet. Promoting Fraud, the BJP in a similar manner, evading law, the BJP chose not to even give the PAN details of these two companies to the Election Commission. Apart from this, Darshan Developers also donated ₹7.5 crore to BJP in 2016-17, which was in losses of ₹7,69,68,968 in 2016-17. For a mere donation of ₹Rs 20 crores, the BJP once again chose to sell the ‘Nation’ to some more ‘Suited-Booted’ friends. The questions in the entire revelation that need to be asked: - Why is it that the RBI, SEBI and Ministry of Finance have not initiated any investigation? - Why is it that the Donation Records of the BJP do not share the PAN details of these Companies as mandated by the Election Commission of India? - Why is it that the Govt of India continues to pressurize the RBI to lend money to NBFCs by totally absolving transparency and accountability from these NBFCs? The Indian National Congress demands an Independent Investigation of the charges that have been reveled through this expose and an explanation to the country as to how such a Huge Financial Scam has been once again ignored by the Ministry of Finance .