ED arrests Dheeraj Wadhawan in Rs 35k crore fraud | India News


MUMBAI: The CBI arrested Dheeraj Wadhawan of DHFL in reference to a Rs 34,000 crore financial institution fraud case from the town and produced him earlier than a court docket in Delhi on Tuesday. The court docket remanded Wadhawan to jail custody.
Dheeraj Wadhawan alongside together with his brother Kapil was arrested in the case in July 2022 and subsequently granted default bail by a court docket in Delhi.The Supreme Court rejected their default bail earlier this yr. It led to arrest of Kapil Wadhawan however, Dheeraj was granted momentary interim reduction on medial floor. Dheeraj was attempting for the common bail however in useless.
He was beforehand been arrested in a distinct case and was launched on medical bail. He was recuperating at dwelling in Mumbai, from the place the CBI arrested him.
Former promoters of DHFL, Kapil and Dheeraj, have been going through a number of investigations by the CBI and ED, together with their alleged monetary transactions with the late drug smuggler Iqbal Mirchi.
The CBI had registered a Rs 34,000 crore financial institution fraud case in opposition to Dheeraj alongside together with his brother Kapil Wadhawan and charged them in 2022, together with 17 others, naming 57 firms, lots of them in the development enterprise in Mumbai. The brothers have been granted default bail in the case, which the Supreme Court rejected earlier this yr. This led to Kapil’s arrest in the case, whereas Dheeraj acquired interim reduction on medical grounds.
Kapil, with the assistance of his brother Dheeraj Wadhawan, aka Baba Dewan, had availed credit score services in the title of DHFL to the tune of Rs 42,871 crore from the Union Bank of India-led consortium of 17 banks. The brothers then diverted the cash from DHFL to firms related to them in the type of loans. Subsequently, DHFL defaulted on the reimbursement of the excellent mortgage quantity of Rs 34,615 crore to the consortium. Of the entire defrauded quantity, the Wadhawan brothers allegedly used 66 entities related to them or their associates to divert Rs 24,595 crore from DHFL underneath the guise of loans, of which Rs 11,909 crore remains to be excellent. Additionally, DHFL disbursed Rs 14,000 crores in false loans in the names of 1,81,664 non-existent individuals and maintained these information, referring to them as ‘Bandra Books,’ which turned NPA.
In the case, the CBI had earlier searched Wadhawan’s affiliate Ajay Navandar, an alleged affiliate of gangster Chhota Shakeel, and had recovered Rs 45 lakh in money together with 25 costly watches and work value a number of crores from his premises. Navandar was allegedly looking for patrons for the work, together with these made by F N Souza (1964) and S H Raza (1956), on the instruction of Wadhawan when he was raided by the CBI. Subsequently, the ED hooked up these work together with different properties, together with 20% in a helicopter and two flats in Bandra, collectively value Rs 70.4 crore in the related cash laundering case.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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