DHFL case: SFIO likely to probe money diversion and siphoning

Government sources have indicated that the ministry of corporate affairs (MCA) may soon order a Serious Fraud Investigation Office (SFIO) probe on Dewan Housing Finance (DHFL).

There was already a registrar of companies (RoC) inquiry which has been on-going for quite some time on the alleged allegations of siphoning of funds. Two days back RoC Mumbai submitted its detailed report of investigation to the ministry of corporate affairs headquarters in New Delhi.

DHFL reports Q2 net loss of Rs 242 crore

After assessing that, the government officials are indicating that there is enough substance found in the investigation report.

An SFIO probe can be ordered only after the minister of corporate affairs signs the official document which recommends an SFIO probe. However, that letter has not yet been signed by the corporate affairs minister and finance minister Nirmala Sitharaman.