DHFL case: CBI arrests Mumbai-based businessman
The Hindu
The agency had registered the biggest bank fraud case last month alleging that a consortium of 17 banks was cheated of ₹34,615 crore
The Central Bureau of Investigation has arrested a Mumbai-based businessman, Ajay Ramesh Nawandar, in connection with the ₹34,615-crore bank fraud case involving Dewan Housing Finance Corporation Limited (DHFL), its promoters and others.
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During the searches on July 8, the agency had seized two paintings estimated to be worth about ₹35 crore, besides luxurious watches worth more than ₹1 crore and other articles from the premises of the accused. The CBI suspects that the artworks and watches belong to the DHFL’s former chairman-cum-managing director Kapil Wadhawan and director Dheeraj Wadhawan.
“The seized items were allegedly acquired by the Wadhawans from the diverted funds. Acting on an input that Mr. Nawandar was trying to dispose them of at the instance of the main accused persons, the agency had carried out the searches. Mr. Nawandar was allegedly a part of the conspiracy to dispose of the articles bought using the proceeds of crime,” said a CBI official.
The agency had registered the biggest bank fraud case last month alleging that a consortium of 17 banks was cheated. Among those named in the FIR are Sudhakar Shetty of Sahana Group, Amaryllis Realtors, Gulmarg Realtors, Skylark Buildcon, Darshan Developers, Sigtia Constructions, Creatoz Builders, Township Developers, Shishir Reality and Sunblink Real Estate.
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