DHFL Scam: CBI files chargesheet in Rs 34,615 loan fraud case

New Delhi, Oct 15 In a latest development in connection with the DHFL loan fraud case of Rs 34,615 crore, the Central Bureau of Investigation (CBI) on Saturday filed a chargesheet against 75 accused persons, including private companies, before the Rouse Avenue Court here.

The chargesheet has been filed against Kapil Wadhawan and Dheeraj Wadhawan, both then CMD of DHFL; Harshil Mehta, its ex-CEO; Ajay Vazirani, advocate; Jayesh Khona, then Vice President (accounting), DHFL; Dinesh Bansal, Director of DK Realty (India) Pvt Ltd; Sunny Bathija, Director of Sunblink Real Estate Pvt Ltd; Ajay Navandar and Jignesh Mehta, CA of Chaturvedi & Shah LLP; Amit Chaturvedi, Partner of Chaturvedi & Shah LLP; and others.

In July, the CBI had sezied a helicopter parked in a hanger at the premises of Avinash Bhosale, one of the accused, at Baner Road in Pune.

"It came to light that RKW Developers Pvt Ltd (a company owned by the Wadhawan family) allegedly has stakes in Varva Aviation (an Association of Persons) which owns an AW109SP GrandNew helicopter (an AgustaWestland helicopter) which was allegedly purchased in 2011.

"RKW Developers Pvt Ltd joined the Association of Persons in 2017, contributing towards cost price and maintenance of the said helicopter. ABIL Infraprojects Ltd, a company owned by Avinash Bhosale, allegedly has stake in the said helicopter. As it was allegedly apprehended that the funds used for making payment towards the stake in Association of Persons were sourced from loan funds sanctioned by different banks, therefore we seized the helicopter which was parked in a hanger at the premises of Bhosale at Baner Road, Pune," the CBI had said.

Earlier the federal probe agency had sezied two paintings by F.N. Souza (1964) and by S.H. Raza (1956) worth Rs 5.50 crore; two watches of Jacob & Co & Frank Muller Geneve make worth Rs 5 crore and jewellery worth Rs 2 crore.

The CBI had said that the promoters had acquired expensive items using the diverted funds. DHFL Directors Kapil and Dheeraj Wadhwan, who were arrested by the agency, were subsequently brought to Delhi from Lucknow.

Earlier on July 8, the CBI had recovered paintings and sculptures worth Rs 40 crore.

The case was registered on June 20, 2022 based on an FIR registered by Vipin Kumar Shukla, DGM and branch head of Union Bank of India, Nariman Point, Mumbai.

It was alleged in the complaint that Dewan Housing Finance Corporation Ltd (DHFL), its then CMD Kapil Wadhawan, Dheeraj Wadhawan, Sudhakar Shetty and other accused persons had entered into a criminal conspiracy to cheat a consortium of 17 banks led by Union Bank of India.

"Wadhawan and others induced the consortium of 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 of banks. Thet caused a wrongful loss of Rs 34,615.00 crores to the consortium lenders," said the CBI.

The FIR was lodged against DHFL, its former CMD Wadhwan, MD Dheeraj Wadhwan, 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 the accused persons, which led to recovery of incriminating documents.