New Delhi: The Central Bureau of Investigation (CBI) conducted nationwide searches Thursday in an on-going investigation into the DHFL loan scam, and recovered paintings and watches worth crores.
The agency is probing irregularities that led to the alleged loss of Rs 34,615 crore to a consortium of 17 banks led by the Union Bank of India.
The agency, sources said, searched 11 locations across the country at premises associated with the accused.
The CBI recovered two watches of Jacob & Co & Franck Muller Geneve worth Rs 5 crore; a painting by F.N. Souza (1964) and another by S.H. Raza (1956) worth Rs 5.50 crore and gold and diamond jewelry including bangles and necklace worth Rs 2 crore, a CBI press release said.
It is alleged that the promoters of Dewan Housing Finance Corporation Ltd (DHFL) acquired the expensive items from diverted funds.
The CBI statement further mentioned: “During investigation, then CMD & then Director, both of private company based at Mumbai were arrested and both are presently in CBI custody.”
What is the DHFL case
The CBI has booked DHFL and its directors Kapil Wadhawan and Dheeraj Wadhawan — among the 13 accused — for allegedly defrauding 17 banks of Rs 34,615 crore. This is the biggest case of bank fraud registered ever by the agency.
DHFL promoters, including the Wadhawan brothers, are already under investigation by both the CBI and the Enforcement Directorate (ED) in a case of alleged fraud involving Yes Bank.
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