NEW DELHI: The Income-Tax Department has sent notices to crisis-ridden NBFC, Dewan Housing Finance Corporation Ltd (DHFL), seeking its books of accounts and asked it to clarify the “unexplained transactions” which the firm has denied saying there is no reference to any “any suspicious transactions”.
Sources said the department’s Mumbai tax office has learnt of several “suspicious transactions” and asked DHFL to explain them. But, the company, in an exchange filing said, “The notice does not refer to any suspicious transactions. Apart from this, as per our knowledge there is no other price sensitive information under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 which could have bearing on the share price of the Company.”
On Monday, DHFL disclosed to the exchanges that that the Income-Tax Department’s Investigation Wing had issued a notice to the company seeking information/evidence on certain aspects of the books of accounts.
In reply to stock exchange queries, DHFL said,”The company is in receipt of a notice under section 131 of the Income Tax Act, 1961 from the Income tax department (Investigation Wing) on 7th February, 2019 seeking information / evidence on certain aspects of the books of accounts.”
The NBFC said it was in the process of collating the requisite details and would be submitting them before the regulatory department in due course of time.
The company has been under scrutiny after news portal Cobrapost in January reported that the primary promoters of DHFL siphoned off public money to the tune of Rs 31,000 crore through loans and advances to shell companies and other means to create private wealth for themselves.
DHFL on January 31 also appointed an independent chartered accountancy firm to probe the allegations.