DHFL Fraud: Kapil and Dheeraj Wadhawan of DHFL booked in Rs 34,615-crore bank fraud case!
This video is in Hindi and covers the following:
DHFL Fraud: Kapil and Dheeraj Wadhawan of DHFL booked in Rs 34,615-crore bank fraud case!
सबसे बड़ा Banking घोटाला: DHFL Fraud
17 बैंको को 34,615 crore का चूना लगाया
Dewan Housing Finance Corporation Ltd. (DHFL) was a non-deposit taking housing finance company, headquartered in Mumbai with branches in major cities across India.
DHFL was established to enable access to economical housing finance to the lower and middle income groups in semi-urban and rural parts of India.
On 29 January 2019, Cobrapost, an Indian investigative journalist group, published an exposé of DHFL for using various shell corporations to siphon more than ₹ 31,000 crores of public money for the personal gains of the DHFL's primary stakeholders: Kapil Wadhawan, Aruna Wadhawan and Dheeraj Wadhawan
In the same article, Cobrapost also raised allegations of political donations worth crores of rupees
Even after the emergence of serious allegations of misconduct against its business, the Indian credit rating agencies continued to issue high safety ratings for the DHFL financial products, but, on 6 June 2019, DHFL defaulted on its debt repayment, resulting in a debt rating downgrade, immediately wiping out 16% of the value from its stock price
On 20 November 2019, the Reserve Bank of India removed the board of directors of the company citing corporate governance failure and the company's defaulted payment obligations
In September 2021, Piramal Enterprises Ltd (PEL) formally acquired the bankrupt Dewan Housing Finance Corporation Ltd (DHFL)
The CBI has registered a fresh case against Kapil Wadhawan and Dheeraj Wadhawan of DHFL for allegedly cheating a consortium of 17 banks led by the Union Bank of India to the tune of Rs 34,615 crore,
The promoters of erstwhile DHFL, Kapil and Dheeraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank in connivance with the bank's cofounder Rana Kapoor who is also lodged at Taloja jail on the outskirts of Mumbai.
DHFL promoters are facing investigations in cases including the Yes Bank fraud case involving Rana Kapoor and the one related to the alleged creation of 2.60 lakh fake home loan accounts under the Pradhan Mantri Aawas Yojana ( ₹14,046 crores).
The FIR said the State Bank of India (SBI) has been cheated of the highest amount ( ₹9898 crore), followed by Bank of India ( ₹4,044 crore), Canara Bank ( ₹4,022 crore), Union Bank of India ( ₹3,813 crore), Punjab National Bank ( ₹3,802 crore) and the Bank of Baroda ( ₹ 2,036 crore).
Other consortium banks allegedly cheated between ₹71 crore to ₹1,499 crore include Bank of Maharashtra, the Federal Bank, Central Bank of India, IDBI Bank, Indian Bank, Indian Overseas Bank, Karnataka Bank, Punjab and Sind Bank, South Indian Bank and UCO Bank.
The CBI is carrying out searches at 12 locations in Mumbai at the premises of accused in the case
The agency booked the Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, the then CMD, Dheeraj Wadhawan, the director and six realtor companies for allegedly being part of criminal conspiracy to cheating the consortium
The agency has acted on a complaint from the bank on February 11, 2022
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