DHFL SCAM AT A GLANCE: FROM THE PERSPECTIVES OF AILING FD HOLDERS
DHFL SCAM AT A GLANCE: FROM THE PERSPECTIVES OF AILING FD HOLDERS DHFL SCAM AT A GLANCE: FROM THE PERSPECTIVES OF AILING FD HOLDERS COMPILED BY DEBAPRASAD BANDYOPADHYAY (TO BE UPDATED) I. HISTORY OF THE DHFL SCAM Dewan Housing Finance Corporation Ltd. (henceforth DHFL, established on 11 April 1984) is a deposit-taking housing finance company, headquartered in Mumbai with branches in major cities across India. As of June 2018, DHFL has 209 branches and 113 service centres. It also has a representative office in London. DHFL was not an unregulated entity. The investors including FD holders relied upon audited financial results, ‘AAA’ credit ratings and regulatory bodies like SEBI, National Housing Bank. DHFL, with their businesses spread across various segments of financial services, were subject to different regulators, including the Reserve Bank of India, Securities and Exchange Board of India, National Housing Bank and the Insurance Regulatory and Development Authority of India