Nine real estate companies under CBI probe in DHFL scam case, preparing for strict action



DHFL has allegedly diverted funds of over Rs 14,683 crore through nine real estate companies. The CBI alleged that these companies were controlled by the then Chairman and Managing Director Kapil Wadhawan, Director Dheeraj Wadhawan and businessman Sudhakar Shetty. With this, the role of these real estate companies has come under the scanner of the Central Bureau of Investigation (CBI), officials said. Of these, five belong to Shetty’s Sahana group.

Fraud case with 17 banks

The CBI is probing the Rs 34,615 crore scam in Dewan Housing Finance Corporation Limited (DHFL). The probe agency has registered a fresh case against DHFL’s Kapil Wadhawan and Dheeraj Wadhawan in an alleged fraud case with a consortium of 17 banks led by Union Bank of India. This is the biggest bank fraud ever that has come under the scanner of the agency. The CBI has acted on the basis of the complaint received from the bank on February 11, 2022.

The investigation started in January, 2019

A meeting was convened by the committee of creditors in February 2019 after the investigation began in January 2019. Subsequently, the committee members appointed KPMG to conduct a special review audit of DHFL from April 1, 2015 to December 31, 2018. The audit report found that Rs 29,100.33 crore was disbursed to 66 entities having parity with DHFL promoters, of which Rs 29,849 crore is outstanding. The bank alleged that most of the transactions of such entities and individuals were in the nature of investment in land and properties.

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