DHFL Scam: The CBI has detained former DHFL Director Dheeraj Wadhawan for allegedly cheating a 17-member lender bank consortium of ₹ 34,000 crore, officials said Tuesday.
According to reports, Mr. Wadhawan was taken into custody in Mumbai on Monday night and appeared before a special court here on Tuesday.
The former DHFL director and his brother, Kapil, were detained in the case on July 19, 2022, according to reports.
This case involves the alleged swindling of a consortium of 17 banks and is said to as India’s greatest banking loan fraud.
Previously, in 2022, the central agency charged Wadhawan with involvement in this case. Wadhawan was previously arrested by the CBI in connection with the Yes Bank corruption investigation and later released on bail.
In an effort to recover overdue dues of Rs 22 lakh, the Securities Exchange Board of India (SEBI) ordered the attachment of former DHFL promoters Dheeraj and Kapil Wadhawan’s bank accounts, shares, and mutual fund holdings in February 2021.
The ruling came after the Wadhawan brothers failed to pay a fee imposed on them in July last year for failing to comply with disclosure requirements.
Each Wadhawan has pending dues of Rs 10.6 lakh, which includes the initial fine, interest, and recovery costs. SEBI fined the Wadhawan brothers, then-DHFL promoters (now Piramal Finance), Rs 10 lakh each in July 2023. The penalties was for concealed violations of disclosure regulations.
During his tenure at DHFL, Kapil Wadhawan was Chairman and Managing Director, while Dheeraj Wadhawan was a non-executive director. Both brothers were on DHFL’s administrative board.
Meanwhile, last Saturday, the Delhi High Court sent a notice to the Central Bureau of Investigation (CBI) in response to Dheeraj Wadhawan’s medical bail application.
Wadhawan filed an appeal with the High judge after a lower judge rejected his bail petition for medical reasons. Wadhawan is currently recovering at home in Mumbai after spinal surgery. Justice Jyoti Singh has ordered the CBI to respond, with a hearing scheduled for Friday, May 17
