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The Enforcement Directorate (ED) announced the attachment of fresh assets valued at about INR 186 crore under the Prevention of Money Laundering Act (PMLA) in connection with the Dewan Housing Finance Corporation Ltd (DHFL) bank loan fraud case. The properties attached include 154 residential flats and receivables linked to 20 flats in Mumbai. This follows earlier attachments in the same case, taking the total value of seized assets to INR 256.23 crore.
The Enforcement Directorate confirmed that new assets worth nearly INR 186 crore have been provisionally attached under the anti-money laundering framework in an alleged bank loan fraud involving Dewan Housing Finance Corporation Ltd (DHFL) and its promoters. The attached properties consist of 154 flats along with movable assets linked to receivables from 20 flats located in Mumbai. Advertisement
Officials explained that the order for attachment was issued by the Mumbai zonal office of the agency under the provisions of the PMLA. This development comes as part of ongoing investigations stemming from a Central Bureau of Investigation (CBI) first information report filed against DHFL, its promoters Kapil Wadhawan and Dheeraj Wadhawan, and others. The complaint alleged that the company and its promoters had defrauded a consortium of 17 banks led by Union Bank of India.
Investigators alleged that the accused misappropriated bank loan funds and falsified company records to conceal defaults. During 2017-18, Kapil Wadhawan and Dheeraj Wadhawan were accused of conspiring to divert DHFL's funds through proxy companies for speculative trading in the company's own listed shares. According to the ED, these trades were executed through brokers in a pre-arranged manner to manipulate both the price and trading volumes of DHFL stock.
The probe agency had earlier attached assets valued at INR 70.39 crore in the same matter. With the latest order, the cumulative attachment in the case now amounts to INR 256.23 crore. The ED had already filed a chargesheet against the accused earlier this year before a special PMLA court in Mumbai, outlining its findings and evidence.
By attaching assets worth INR 186 crore, the agency has escalated efforts to recover alleged misappropriated funds and strengthen its case before the special PMLA court. With cumulative attachments now exceeding INR 256 crore, the case highlights the scale of alleged irregularities and the scrutiny facing the company's promoters.
Source - PTI
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