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.