DHFL fraud case: Promoters, others charged with cheating a consortium of 17 banks of Rs.34,615 cr by the CBI
The Enforcement Directorate (ED) has attached assets worth Rs.70.39 crore belonging to Kapil Wadhawan and Dheeraj Wadhawan in connection with the DHFL fraud case.
The ED said in a statement that it has attached the properties of Kapil and Dheeraj Wadhawan under the provisions of the Prevention of Money Laundering Act (PMLA) in the DHFL fraud case, including paintings and sculptures worth Rs.28.58 crore, watches worth Rs.5 crore, diamond jewellery worth Rs.10.71 crore, 20 percent stake in a helicopter to the tune of Rs.9 crore and two flats in Bandra worth Rs.17.10 crore.
The ED case is based on an FIR registered by the CBI against Kapil and Dheeraj Wadhawan, promoters of DHFL, and others for cheating a consortium of 17 banks to the tune of Rs.34,615 crore.
The central agency said that its probe revealed that Kapil and Dheeraj Wadhawan, both directors of DHFL, and other accused persons entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India (UBI). In pursuance of the said conspiracy, the accused induced the consortium of banks to sanction loans aggregating to Rs.42,871.42 crore.
“It was revealed that the accused persons siphoned off and misappropriated a significant portion of funds by falsifying the books of DHFL and dishonestly defaulted on repayment of the legitimate dues of the banks, thereby causing a wrongful loss of Rs.34,615 crore to the lenders,” it said.
Both Kapil and Dheeraj Wadhawan are presently in judicial custody.
[With Inputs from IANS]
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