DHFL Scam: CBI Arrests Director Dheeraj Wadhawan In India's Biggest Bank Fraud Worth Rs 35,000 Crore
MUMBAI: The Central Bureau of Investigation (CBI) arrested former DHFL director Dheeraj Wadhawan in connection with a bank fraud, officials were quoted as saying on Tuesday.
Wadhaman's arrest pertains to a Rs. 34,000-crore bank fraud case with a consortium of 17 banks including the Union Bank of India.
The CBI detained the DHFL promoter in Mumbai on Monday evening and was subsequently presented before a special court in Delhi on Tuesday, where he was remanded in judicial custody.
As per reports, the probe agency had already charge-sheeted him in connection with this case back in 2022.
Dheeraj Wadhawan along with his brother Kapil, who was already in prison, have been accused of siphoning off funds from banks to entities under their control by sanctioning them loans without due diligence and without obtaining adequate securities and also through forged account books.
The CBI had previously arrested Wadhaman over his links to the Yes Bank corruption scandal that shook the banking sector but he was subsequently released on bail.
Astonishingly, this massive financial crime to the tune of tens of thousands of crores happens to be the largest banking loan fraud in the country, sending shockwaves in the banking sector.
According to reports, the CBI filed a charge sheet in the case last month naming Alok Kumar Misra, former chairman and managing director of Bank of India and Oriental Bank of Commerce, and 33 others.
CBI has claimed that Misra got Rs 1.5 crore from DHFL in the form of a discounted flat for his son in Mumbai in return for sanctioning loans in his capacity as the head of BOI and OBC which was merged with Punjab National Bank in 2020.
It may be noted that Misra was the head of BOI from 2009 to 2012 and OBC from 2007 to 2009.
DHFL got credit worth a whopping Rs 42,871 crore from a consortium of 17 banks between the period of January 2010 and December 2019.
The Wadhawan brothers diverted the funds to shell companies known as 'Bandra Book Entities' inflicting a humongous loss of Rs 34,936 crore to the consortium of banks.
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