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 courtroom in Delhi on Tuesday. The courtroom remanded Wadhawan to jail custody.
Dheeraj Wadhawan alongside along with his brother Kapil was arrested within the case in July 2022 and subsequently granted default bail by a courtroom in Delhi.The Supreme Courtroom 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 residence in Mumbai, from the place the CBI arrested him.
Former promoters of DHFL, Kapil and Dheeraj, had been dealing with 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 towards Dheeraj alongside along with his brother Kapil Wadhawan and charged them in 2022, together with 17 others, naming 57 firms, a lot of them within the building enterprise in Mumbai. The brothers had been granted default bail within the case, which the Supreme Courtroom rejected earlier this yr. This led to Kapil’s arrest within the case, whereas Dheeraj obtained interim reduction on medical grounds.
Kapil, with the assistance of his brother Dheeraj Wadhawan, aka Baba Dewan, had availed credit score amenities within the identify of DHFL to the tune of Rs 42,871 crore from the Union Financial institution of India-led consortium of 17 banks. The brothers then diverted the cash from DHFL to firms related to them within the type of loans. Subsequently, DHFL defaulted on the compensation of the excellent mortgage quantity of Rs 34,615 crore to the consortium. Of the full 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. Moreover, DHFL disbursed Rs 14,000 crores in false loans within the names of 1,81,664 non-existent individuals and maintained these information, referring to them as ‘Bandra Books,’ which turned NPA.
Within 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 price a number of crores from his premises. Navandar was allegedly trying to find consumers 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 connected these work together with different properties, together with 20% in a helicopter and two flats in Bandra, collectively price Rs 70.4 crore within the linked cash laundering case.


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