Country's biggest banking scam???
The Central Bureau of Investigation (CBI) has registered a fresh case against DHFL's Kapil Wadhawan and Dheeraj Wadhawan in an alleged Rs 34,615 crore 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. Officials said that the cbi is searching 12 locations of the accused in Mumbai.
Case filed against them
(DHFL), the then chairman and managing director Kapil Wadhawan, director Dheeraj Wadhawan, and six realty sector companies to the tune of Rs 34,615 crore. A case has been registered for being involved in a criminal conspiracy for cheating. The Wadhawan brothers are currently under the scanner of the cbi in the alleged corruption case.
Rana Kapoor is also involved in the scam
The Wadhawans are already under the cbi probe in the alleged corruption case involving Yes bank founder Rana Kapoor. The agency alleged that Kapoor along with the Wadhawans entered into a criminal conspiracy to provide financial assistance to DHFL through Yes Bank. In return, he and his family members got a substantial unfair advantage through the companies held by him.
Piramal has acquired DFHL
The ED charge sheet had indicated a criminal conspiracy between Rana Kapoor and Kapil and Dheeraj Wadhawan to launder money through dubious transactions and obtain loans by pledging exorbitantly high-value assets. In september last year, Piramal capital and Housing Finance (PCHF) completed the acquisition of DHFL for Rs 34,250 crore, which includes a cash component and non-convertible debentures (NCDs).
