Investigations revealed that Sunblink had brought three properties from Memon valued Rs 225 crore in 2010. DHFL
on Friday clarified its exposure to Sunblink Developers to stock exchanges, saying that it had in the normal course of business funded certain projects of various companies in and around Mumbai.
“Due to market conditions, the borrowers had streamlined their internal operations whereby they have, by certain corporate actions undertaken recently, merged certain of their companies into Sunblink. As a result, as on date, Sunblink is mentioned as a borrower,” it said.
The exposure of the NBFC came to light when the enforcement agency had arrested Iqbal Memon alias Iqbal Mirchi’s close aides — the former chairman of Sir Mohamed Yusuf Trust, Haroun Yusuf, and real estate broker Bindra last week.