NEW DELHI: The Congress on Wednesday demanded an independent time-bound probe into allegations of irregularities by non-banking finance company DHFL in the name of slum development and rehabilitation in Maharashtra.
Congress spokesperson Priyanka Chaturvedi asked why the RBI, SEBI and the Finance Ministry are not initiating an investigation into the alleged "scam" involving "syphoning of Rs 31,000 crore."
She also alleged that the government continues to "pressurise" the RBI to lend more money to non-banking financial companies (NBFCs) by absolving transparency and accountability. She also claimed that donation records of BJP do not share the PAN details of such companies as mandated by the Election Commission.
"The Congress demands an independent investigation of the charges that have been revealed 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," she told reporters, referring to the 'sting' by a website.
While there was no immediate comment available from the BJP, the Dewan Housing Finance Corporation Limited (DHFL) in a statement has said, "This mischievous misadventure by Cobrapost appears to have been done with a mala fide intent to cause damage to the goodwill and reputation of DHFL and resulting in erosion in shareholder value.
" Chaturvedi alleged that the BJP was "gifted" Rs 20 crore by the promoters of DHFL and they got a "return gift worth Rs 31,000 crore".
"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 government of India continues to pressurize the RBI to lend money to NBFCs by totally absolving transparency and accountability from these NBFCs," she also asked.
"It raises serious questions about the Bhartiya Janta Party and Shri Narender Modi's commitment towards zero tolerance' to corruption.
"DHFL 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," she alleged.
She alleged that the NBFCs have a mind-boggling banking exposure of over Rs 97,000 crores to 32 Indian public and private banks.
"The main partners of DHFL 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 address with the same group of directors," the Congress spokesperson alleged.
"In the name of 'slum development' and slum rehabilitation' in Maharashtra, 45 of these so-called shell companies' were given loans worth a total of Rs 14,282 crore without any security and ignoring necessary investigations, hence leading to creating 'private wealth' in India and abroad," she alleged.
"However, the icing on the cake is the donation of about Rs 20 crores given by the promoters to Bharatiya Janta Party through these shell companies," she claimed.
"According to the law, before any donation, a 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," she alleged.
Former finance minister Yashwant Sinha had also on Tuesday demanded a probe into the alleged diversion of loans by DHFL that the company raised from state-owned banks including SBI and Bank of Baroda, a charge the NBFC termed as mischievous.