CBI Held DHFL Dir Dheeraj Wadhawan For Involvement In Rs 34,000 Cr Bank Fraud

Mumbai: The Central Bureau of Investigation (CBI) on Monday arrested the Dewan Housing Finance Corporation Limited (DHFL) director Dheeraj Wadhawan from Mumbai for his alleged involvement in the Rs 34,000 crore bank fraud case. News Agency ANI informed it in an X post (formerly Twitter) today.

As per the information Wadhawan was produced before a court in Delhi today and has been sent to judicial custody, informed CBI officials.

An FIR under sections 120-B read with 409, 420, 477-A of the IPC and Section 13(2) read with sections 13(1)(d) of the Prevention of Corruption Act was lodged against DHFL, its former CMD Kapil Wadhawan, MD Dheeraj Wadhwan, and others, including public servants for inducing the consortium of 17 banks led by Union Bank of India (UBI) to sanction huge loans aggregating to Rs 42,871.42 crore.

Allegedly, the accused siphoned off and misappropriated a significant portion of the said funds by falsifying the books of the DHFL and dishonestly defaulted on repayment of the legitimate dues causing a wrongful loss of Rs 34,615 crore to the consortium lenders.