The total attachment in the DHDL bank fraud case till date stands at Rs 256.23 crore. The central agency’s Mumbai Zonal Office attached the properties on September 5 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the DHFL bank fraud case
The provisionally attached assets include 154 flats and movable assets in the form of receivables pertaining to 20 flats situated in Mumbai. Representational pic
The Enforcement Directorate (ED) attached immovable and movable assets worth Rs 185.84 crore in the bank fraud case of Dewan Housing Finance Corporation Ltd (DHFL), the agency said on Tuesday.
The provisionally attached assets include 154 flats and movable assets in the form of receivables pertaining to 20 flats situated in Mumbai, reported news agency ANI. The total attachment in the DHDL bank fraud case till date stands at Rs 256.23 crore.
The central agency’s Mumbai Zonal Office attached the properties on September 5 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the DHFL bank fraud case, in which Kapil Wadhawan, Dheeraj Wadhawan and others have been accused of entering into a criminal conspiracy to cheat the consortium of 17 banks led by Union Bank of India.
ED initiated an investigation on the basis of the first information report registered by the Central Bureau of Investigation (CBI) under various provisions of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988, against DHFL, Wadhawan, and Dheeraj, among others for allegedly committing bank fraud and cheating a consortium of banks.
The central probe agency’s investigation revealed that DHFL, Wadhawan, Dheeraj, and the others accused in the case were involved in siphoning off and misappropriating of bank loan funds by falsifying the books of the company and dishonestly defaulting on the bank loans.
The agency further said in a statement that it has been revealed that during 2017-18, Wadhawan and Dheeraj conspired to divert DHFL funds through proxy companies and inter-corporate deposits (ICDs) for fraudulent trading in DHFL shares.
"These trades executed via brokers were pre-arranged to rig the share price and volumes of publicly listed DHFL stock," ED stated.
Earlier, the agency had also issued a Provisional Attachment Order for assets worth Rs. 70.39 crore. ED has also filed a prosecution complaint before the special Prevention of Money Laundering Act (PMLA) Court in Mumbai on April 3, for which cognisance was taken on May 2.
ED raids 10 places in Delhi, Madhya Pradesh in Rs 273-crore bank fraud case
The Enforcement Directorate (ED) on Tuesday conducted a search operation at 10 locations across Delhi and Madhya Pradesh in connection with an alleged Rs 273-crore bank fraud case, officers said.
While nine searches were carried out in Delhi, one was conducted in Bhopal. The premises covered in the search action belong to the entities and persons closely associated with the company, reported ANI.
ED recorded an Enforcement Case Information Report (ECIR) on the basis of the Central Bureau of Investigation (CBI) FIR, which was registered on the grounds of a complaint made by the bank.
"The company and its promoters and directors siphoned off the loan and funds extended by IFCI (Industrial Finance Corporation of India) to the tune of approximately Rs 273 crores," the officers said.
Citing an investigation conducted by the ED, officers stated "a huge amount of the loan funds was diverted to various related entities of EHDL who were not engaged in any genuine business."
(With ANI inputs)
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