June 25, 2024

Dheeraj Wadhawan, former director of DHFL, has been apprehended by the CBI. The arrest is part of an investigation involving a consortium of 17 banks allegedly cheated out of ₹34,000 crore. Wadhawan was arrested in Mumbai and transferred into judicial custody by a special court in New Delhi.

Wadhawan and his brother Kapil were previously arrested for the same case on July 19, 2022. Later, they both received what the court referred to as “statutory” bail. Both the bail and its conditions were opposed by the CBI, and the Supreme Court ultimately overturned the original decision.

While this case unfolded, Wadhawan managed to secure temporary bail due to health concerns. Upon expiration of that bail, he was promptly arrested by the CBI. Currently, Dheeraj, Kapil Wadhawan, and a third accused party, Ajay Nawandar, all find themselves in judicial custody.

The original complaint against the Wadhawans was lodged by the Union Bank of India, which led the group of banks that granted credit facilities to DHFL. It’s alleged that the brothers cheated the consortium of around ₹34,615 crore through fraudulent activities, misuse of public funds, and avoiding loan repayments.

According to CBI, DHFL’s loan accounts were judged as non-performing assets by lender banks at different stages. An audit conducted by KPMG further revealed misuse of funds in form of loans and advances to entities and individuals associated with DHFL and its directors.

Frequently Asked Questions:

What is the DHFL Scam?

In this case, the former DHFL Director, Dheeraj Wadhawan, along with his brother Kapil, are accused of defrauding a consortium of 17 banks out of nearly ₹34,000.

Who is involved in the DHFL Scam?

The scam involves Dheeraj Wadhawan, his brother Kapil, both former executives at DHFL. The Union Bank of India led a group of 17 lending banks, which were allegedly wronged. Ajay Nawandar is another individual currently in custody in relation to the case.

What is the current status of the DHFL Scam?

Currently, Dheeraj Wadhawan, Kapil Wadhawan, and Ajay Nawandar are all in judicial custody. The charges have been filed and the investigation is ongoing. While waiting for the completion of the investigation, Dheeraj and Kapil were granted temporary bail, which was contested by the CBI and overturned by the Supreme Court. Upon the expiration of Dheeraj’s additional health-related bail, he was immediately arrested.