The New York Times : DHFL book CBI Kapil, Dheeraj Wadhawan, others involved in bank fraud Rs 34,615 crore
India Today learned that this is the biggest bank scam in the country, with the amount involved almost three times that of the Nirav Modi case.
DHFL book Kapil CBI, Dheeraj Wadhawan, others in biggest bank fraud in India with Rs 34,615 crore (File photo)
The Central Bureau of Investigation is conducting searches in Maharashtra at 12 locations at DHFL-related establishments, its promoters Kapil Wadhawan, Dheeraj Wadhawan, businessman Sudhakar Shetty and others involved in a case bank scam Rs 34,614. India Today learned that this is the biggest bank scam in the country, with the amount involved almost three times that of the Nirav Modi case.
According to FIR, Dewan Housing Finance Corporation Limited (DHFL), then CEO Kapil Wadhawan, then Director Dheeraj Wadhawan, businessman Sudhakar Shetty and other defendants were involved in a criminal conspiracy to commit fraud. A consortium of 17 banks headed by Union Bank. of India.
“In pursuit of criminal conspiracy, defendant Kapil Wadhawan and others led the consortiums to sanction huge loans of up to Rs 42,871 crore and extracted & appropriated a substantial portion of the funds by doing misrepresentation of DHFL’s books and dishonesty in default. legitimate fees of the consortium banks and thereby causing wrongful damage of Rs 34,615 crore to the affiliated lenders,” the CBI FIR read.
CBI has named DHFL, Kapil Wadhawan, Dheeraj Wadhawan, Skylark Buildcon Pvt. Ltd, Darshan Developers Pvt. Ltd., Sigtia Constructions Builders Pvt. Ltd, Township Developer Pvt. Ltd., Shishir Reality Pvt. Ltd, Sunblink Real Estate Pvt. Ltd, Sudhakar Shetty and others accused in the case.
All those charged have been charged with fraud, fraud and under relevant sections of the Anti-Corruption Act.
Banks started disbursing loans to the alleged companies from 2010. The loans, at more than Rs 34,615 crore, were declared non-performing assets (NPA) in 2019.