Cobrapost exposé finds DHFL promoters siphoned over ₹31,000 crore

[annacola]

@starryeyes You're right in saying that parties receive donations from many companies. However, what they're saying is that it's strange that:

a) These shell companies donated money and didn't disclose (or only partially disclosed) the donations on their balance sheets.

b) These cos made the donations despite having a weak balance sheet.

 

[starryeyes]

@annacola Are these public companies? If a company doesnt disclose it, could be numerous reasons such as they didnt want benefit, to over looking by accountant, they can also file revised balance sheets, its a companies matter. Are we looking at consolidated balance sheet or standalone?

Weak balance sheet can be a number of reasons. A company can be created just to donate to political party. Its not illegal by any means.

Im saying we should have the full picture before jumping to with conclusions.

Im saying multiple ratings agencies have retained A1+ ratings on DHFL

Here is CRISIL's rating: https://economictimes.indiatimes.co...ercial-paper-of-dhfl/articleshow/65991809.cms

edit - also hearing bjp did disclose the donation received, so if its not disclosed in DHFL's subsidiary company its their matter w.r.t the ROC/audit/tax man...

 

[annacola]

@starryeyes Credit rating agencies rated IL&FS AAA and A1+. That worked out well didn't it?

 

[resjudicata]

@starryeyes

Im saying multiple ratings agencies have retained A1+ ratings on DHFL

That is under the assumtion that money was lent to homeowners and builders and they have a portfolio backed with real estate collaterals. If the allegation of unsecured loans to promoter linked entities is true, then ratings are meaningless.

 

[chantelle1989g]

@annacola we have a few RD and FD's invested in DHFL should we liquidate them ASAP ?

 

[annacola]

@chantelle1989g Not sure of the implications on FD holders. I would liquidate to be on the safer side especially if the amount is greater than 1 lakh.

 

[chantelle1989g]

@annacola thanks, but who should be most worried with these developments ?

 

[annacola]

@chantelle1989g Shareholders (although it's probably too late for them now) and the banks, ofc.

 

[between_winds]

@chantelle1989g Why did you go for RD/FB with NBFCs? Bank FDs are indured by DGGCI

Anyways be careful of these "exposes". Recently Sun Pharma was attacked the same way, the price crashed hard and then it turned out to be nothing. Next Zee group had some manipulation to crash the price

 

[chantelle1989g]

@between_winds High rating, high returns, and a chalta hai attitude which keeps you from dictating your wife's financial decisions, which she made using money she inherited from her mother.

 

[cath]

@annacola What’s the advice guys? Sell on whatever rate I get tomorrow? Have a lot riding on Dhfl.

 

[jwilder9]

@cath Sell sell and sell, usually if you see one cockroach you can be sure that there are many cockroaches hidden. So beware and sell.

 

[resjudicata]

@cath yep, tomorrow mostly it will ride on sentiments

 

[lostyoungadult]

@annacola Cobrapost latest Video

1. Video 1 Intro
2. Video 2 PPT presentation

 

[johndoe7643]

@annacola What will be the effect of this on DHFL NCDs?

 

[jwilder9]

@johndoe7643 Loss or partial loss.

 

[draugdurdil]

@annacola NBFCs are in for a bad time it looks like overall.

 

[sjohnson08]

@annacola How reliable is Cobrapost? Would it be possible that they have some ulterior motives in this ?