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DHFL bank-fraud case: Central Bureau of Investigation (CBI) arrested businessman Ajay Ramesh Nawandar from Mumbai, an alleged aide of gangster Dawood Ibrahim’s shut affiliate Chhota Shakeel, in reference to Rs 34,615-crore alleged DHFL bank-fraud case, officers mentioned.
CBI carried out searches at Nawandar’s premises final week and recovered a lot of uber-luxury watches value crores of rupees, together with Rolex Oyster Perpetual, Cartier, Omega and Hublot Michael Kors, the officers mentioned.
The CBI has booked Dewan Housing Finance Restricted (DHFL), its former CMD Kapil Wadhawan, director Dheeraj Wadhawan and others for an alleged financial institution fraud of Rs 34,615 crore, making it the largest such case probed by the company.
CBI carried out searches, in an ongoing investigation of a case associated to the alleged lack of Rs. 34,615 Crore (approx.) to a consortium of 17 Banks led by Union Financial institution of India, on the premises of two individuals in Mumbai and Dewan Villa, Mahabaleshwar which led to the restoration of a lot of work and sculptures, some money & different incriminating paperwork. The worth of those artworks is estimated to be round Rs. 40 crore, as per preliminary estimates.
Through the investigation, it was discovered that the promoters had allegedly diverted the funds and made investments in numerous entities. It was additionally alleged that the promoters had acquired costly work and sculptures value about Rs 55 Crore (approx.) utilizing the diverted funds.
A case was registered on a criticism from Union Financial institution of India, Industrial Finance Department, Mumbai towards a personal (borrower) firm primarily based at Mumbai, its then CMD, then Director and others together with a personal particular person, personal corporations, unknown public servants & personal individuals on the allegations that the accused cheated a consortium of 17 banks led by Union Financial institution of India to the tune of over Rs. 34,615 crore (approx.) by siphoning off loans availed from the mentioned banks & falsifying the books of mentioned personal (Borrower) firm and creating Shell Firms/false entities, which had come to be often called “Bandra Ebook Entities”.
It was alleged that the mentioned personal firm & its promoters had created quite a lot of shell corporations & fictitious entities (the Bandra Ebook entities) and siphoned off large funds by disbursing funds to such fictitious entities.
It was additional alleged that separate audits carried out by different personal audit accounting organisations had recognized a number of situations of diversion of funds by the accused for private advantages and falsification of books of accounts to camouflage & conceal doubtful transactions.
The audits additionally recognized a number of situations the place giant worth loans have been offered to such fictitious entities with out due diligence and with out securities.
Cases of sanction and disbursement of loans, merely by e-mail communications have been allegedly discovered for which no mortgage information have been maintained within the mentioned personal (Borrower) firm.
Earlier, searches have been carried out on 22.06.2022 at 12 places in Mumbai on the premises of the accused which led to the restoration of incriminating paperwork.
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