New Delhi, July 13 (BPNS)
The Central Bureau of Investigation (CBI) on Wednesday arrested one Ajay Ramesh Nawandar in connection with a loan fraud case of Rs 36,615 crore involving DHFL and its top officials.
The CBI had on Friday conducted searches in this connection which had led them to the recovery of large number of paintings and sculptures estimated to be around Rs 40 crore.
The premises of Nawandar — who has been arrested on Wednesday, and Rebecca Dewan were raided by the CBI.
A CBI source said that one Vipin Kumar Shukla, DGM and Branch head of Union Bank of India, Nariman Point, Mumbai lodged an FIR in this connection.
It was alleged that Dewan Housing Finance Corporation Ltd (DHFL), its former CMD Kapil Wadhawan, ex-Director Dheeraj Wadhawan, and other accused persons entered into a criminal conspiracy to cheat a consortium of 17 banks led by the Union Bank of India.
“Wadhawan and others induced the consortium banks to sanction huge loans aggregating to Rs 42,871.42 crore and siphoned off and misappropriated a significant portion of the said funds by falsifying the books of the DHFL and dishonestly defaulted on repayment of the legitimate dues of the said consortium banks. That caused a wrongful loss of Rs 34,615 crore to the consortium lenders,” said the CBI.
The CBI after condhcting an inquiry lodged the case under sections 120-B read with 409, 420, 477-A of IPC and Section 13(2) read with sections 13(1)(d) of Prevention of Corruption Act.
The FIR was lodged against DHFL, the Wadhwan brothers, present Director Sudhkar Shetty, Amaryllis Realtors LLP (ARLLP), Gulmarg Realtors LLP (GRLLP), Skylark Buildcon Pvt Ltd, Darshan Developers Pvt Ltd, Sigtia Constructions Pvt Ltd, Creator Builders Pvt Ltd, Township Developers Pvt Ltd, Shishir Reality Pvt Ltd, Sunblink Real Estate and other unknown persons, including public servants.
The official said that it was found that the promoters had allegedly diverted the funds and made investments in various entities.
It was also alleged that the promoters had acquired expensive paintings and sculptures worth about Rs 55 crore using the diverted funds.
Earlier, searches were conducted on June 22 at 12 locations in Mumbai at the premises of accused which led to recovery of incriminating documents.