DHFL, Wadhawans booked by CBI in ₹34,615cr bank fraud | India News

NEW DELHI: CBI booked Dewan Housing Finance LtdIts old CMD Kapil Wadhawanmanager Dheeraj Wadhawan and others for bank fraud of Rs 34,615 crore, making it the largest case investigated by the agency, officials said on Wednesday.
After registering the case on June 20, a team of more than 50 officials from the agency on Wednesday carried out coordinated searches across 12 premises in Mumbai belonging to those charged on the list. FIR, including Sudhakar Shetty of Amaryllis Realtors and eight other builders.
Action coming from a complaint from Union Bank of India (UBI), the leader of a 17-member lending group, extended credits to Rs 42,871 crore between 2010 and 2018.
The bank alleged that Kapil and Dheeraj Wadhawan in criminal conspiracy with others misrepresenting and concealing the truth, committing a breach of trust and abusing public funds to defraud the corporation out of Rs 34,614 crore by defaulting on debt from May 2019 onwards.
An audit of DHFL’s books of accounts revealed that the company allegedly engaged in financial irregularities, transferring funds, falsifying its books, and setting up funds to “create assets for Kapil and Dheeraj Wadhawan” by using wages.
Both are in judicial custody in connection with previous fraud cases against them.
The DHFL loan account had been declared inactive by lenders at various times, they said. When the DHFL was investigated in January 2019 after press coverage of the alleged frauds emerged, the lending banks held a meeting on February 1, 2019 and appointed KPMG to act. “special evaluation audit” for DHFL from April 1, 2015 to December 31, 2018.
They also said banks also issued Notice of Supervision against Kapil and Dheeraj Wadhawan on October 18, 2019 to prevent them from leaving the country. UBI alleged that KPMG, in its audit, was red-marked as diverting funds to obtain loans and advances to related and affiliated entities and individuals. DHFL and its directors.
A close look at the account books shows that 66 entities with similarities to DHFL advertisers have been disbursed Rs 29,100 compared to Rs 29,849 still outstanding.