In more troubles for Kapil Wadhwan and Dheeraj Wadhawan of the Dewan Housing Finance Limited (DHFL), the Central Bureau of Investigation (CBI) on Saturday filed a chargesheet against them and 73 others in India’s biggest bank fraud case to the tune of Rs 34,000 crores.
The agency filed a chargesheet before a special CBI court in Delhi against former DHFL CMD Kapil Wadhawan, his brother Kapil and 16 others along with 57 companies for defrauding the consortium of 17 banks, informed CBI spokesperson RC Joshi.
Besides the Wadhawans, the CBI has named former DHFL CEO Harshil Mehta, advocate Ajay Vazirani, former DHFL vice president (accounting) Jayesh Khona, DK Reality (India) Pvt. Ltd. Dinesh Bansal, Sunblink Real Estate Pvt. Ltd. director Sunny Bathija and others.
Among the 57 companies named in the chargesheet are Skylark Buildcon Pvt. Ltd., Darshan Developers Pvt. Ltd., Sigtia Constructions Pvt. Ltd., Creatoz Builders Pvt. Ltd., Township Developers India Ltd, Shishir Realty Private Ltd., Sunblink Real Estate Pvt. Ltd., Aahna Infracon Pvt. Ltd., Able Realty Pvt. Ltd., Bodhisatva Realtors Pvt. Ltd., Canary Hospitality Pvt. Ltd., Coral Inn Pvt. Ltd, Daffodil Realtors Pvt. Ltd., and Damask Infracon Pvt. Ltd.
The fraud case pertains to cheating a consortium of 17 banks to the tune of more than Rs 34,615 crores by siphoning off loans availed from the consortium and falsifying the company books, and creating shell companies, which had come to be known as “Bandra Book Entities”.
The CBI had registered the case on the basis of a complaint lodged by Union Bank of India.
DHFL and its promoters siphoned off huge funds by disbursing the money to several shell companies that were created for this purpose.
The Wadhwan brothers were arrested during the course of investigation and are currently in CBI custody.
It was also alleged that separate audits conducted by other private audit accounting organisations had identified multiple instances of diversion of funds by the accused for personal benefits and falsification of books of accounts to camouflage and conceal dubious transactions.
On June 22 this year, the CBI carried out searches at 12 locations in Mumbai at the premises of the accused which led to the recovery of incriminating documents.