Overview
- Cobrapost alleged over ₹10,000 crore in related-party dealings at Murugappa-linked entities and about ₹25,000 crore in cash deposits by CIFC across 14 banks since 2019.
- CIFC rejected the charges as malicious and distorted, saying all related-party transactions were disclosed in line with applicable standards and that the report applies retrospective definitions.
- Management said cash handling reflects its retail borrower mix, noting cash collections have declined to roughly 15% from about 50% earlier under internal controls and audits.
- The company highlighted liquidity of ₹14,900 crore in cash and bank balances as of November 30 and a strengthening capital position, with brokerage commentary flagging expected net-worth gains from CCD conversions.
- CIFC said it will engage regulators to examine potential market-manipulation motives and consult legal advisers on possible action, with no independent regulatory probe publicly announced.