The fraud allegations against Dewan Housing Finance Corp. Ltd (DHFL) puts over 1,00,000 fixed deposit holders at risk, reported LiveMint. Many of the account holders, the report said, now risk losing their savings as fraud allegations engulf the lender.

The development comes not long after government sources have indicated that the ministry of corporate affairs (MCA) may soon order a Serious Fraud Investigation Office (SFIO) probe on Dewan Housing Finance (DHFL) that is already facing a registrar of companies (RoC) inquiry over the alleged allegations of siphoning of funds.

The fixed deposit holders, the report said, include many senior citizens who have deposited in their life savings in the bank. While the bank stooped accepting deposits last May, it still had public deposits of over Rs 6,000 crore in July, the report added.

The depositors, the report said, hopes have been further trashed after hopes of quick approval of the resolution plan have sunk with the KPMG forensic audit finding possible diversion of funds and an impending SFIO probe.