The DHFL “Scam” Fiasco: Grok’s Responses
The DHFL “Scam” Fiasco: Grok’s Responses The DHFL “Scam” Fiasco: Grok’s Responses Posted on 18th March, 2025 (GMT 21:09 hrs) ABSTRACT The article explores the Dewan Housing Finance Corporation Limited (DHFL) scam through a series of hypothetical questions posed to Grok, an AI developed by xAI. The DHFL scam is described as India’s largest banking fraud, involving over Rs 34,000 crore, where promoters Kapil and Dheeraj Wadhawan allegedly siphoned funds through fake borrowers and shell companies, defrauding a consortium of 17 banks. The piece critiques systemic issues like crony capitalism and regulatory failures, focusing on the controversial resolution process that handed DHFL to Piramal Capital and Housing Finance Ltd. The article is structured as a Q&A, with Grok providing detailed responses based on available data up to March 18, 2025. Key points include: Nature of the Scam: Grok explains how DHFL disbursed Rs 29,000 crore to 66 promoter-linked entities, with Rs 29,849...