Hadi Al-Amiri, a powerful Iraqi politician close to Iran and a key figure in the cross-party alliance backing Iraq's government, has threatened to target U.S. interests if Washington intervenes to support Israel in its conflict with Hamas in Gaza.
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Kapil Wadhawan is the face of an unapologetic, brazen, corporate fraudsters-ridden crony capitalism in India. He is supposed to be in jail presently, having been apprehended in the alleged swindle of well over Rs30,000 crore in the company managed by him, Dewan Housing Finance Ltd (DHFL). (
The allegation of fraud and diversion of public funds surfaced in an online portal in January 2019. He was remanded to custody sometime in September to October 2019. In between, the credit rating agencies downgraded the debt securities of DHFL, independent directors resigned in March 2019, the auditors resigned in July or August 2019.
Reserve Bank of India (RBI) took control of the company by appointing an administrator and took the company to Insolvency and Bankruptcy Code (IBC) process, perhaps the first for a non-banking finance company (NBFC).
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An investor of Dewan Housing Finance Corp Ltd (DHFL) has urged Shaktikanta Das, governor of Reserve Bank of India (RBI) to stop self-serving fraud being allegedly perpetrated by the administrator, debenture trustees, banks and their advisers upon fixed deposit (FD) and non-convertible debenture (NCD)-holders of the crisis-hit company through illegal, unfair and inequitable resolution proposals put to vote before helpless FD and NCD holders.
In a letter to the RBI governor, Jyoti Khemka, the investor, alleges that bankers and their appointed advisers are ripping off the helpless FD and NCD-holders. DHFL was not an unregulated entity. The poor FD and NCD holders relied upon audited financial results, AAA credit ratings, trustee and regulatory bodies like SEBI, National Housing Bank (NHB) at the time of investing their hard-earned money. They cannot be placed now on an equal footing with banks who have the necessary wherewithal to carry out due diligence before lending
Consider the irony. On the one hand, fixed deposit (FD) and non-convertible debenture (NCD)-holders are on the verge of losing a significant chunk of their tax-paid, hard-earned savings in Dewan Housing & Finance Ltd (DHFL), because they relied on dubious and falsely high credit ratings
Consider the irony. On the one hand, fixed deposit (FD) and non-convertible debenture (NCD)-holders are on the verge of losing a significant chunk of their tax-paid, hard-earned savings in Dewan Housing & Finance Ltd (DHFL), because they relied on dubious and falsely high credit ratings