Mumbai: The CBI has arrested former DHFL director Dheeraj Wadhawan in connection with a Rs 34,000-crore bank fraud case, officials said on Tuesday.
Wadhawan was taken into custody from Mumbai on Monday evening, they said and added that he was produced before a special court in Delhi on Tuesday that sent him to judicial custody.
Complaint Registered By CBI
In June 2022, the CBI had registered a case on complaint from Union Bank of India, Industrial Finance Branch, Mumbai against Kapil Wadhawan and Dheeraj Wadhawan and others on the allegations that the accused cheated a consortium of 17 banks led by Union Bank of India to the tune of over Rs 34,615 crore by siphoning off loans availed from the said banks, falsifying the books, and creating shell companies / false entities, which had come to be known as ‘Bandra Book Entities’.
It was alleged that the said private company and its promoters had created a number of shell companies and fictitious entities and siphoned off huge funds. It was further alleged that separate audits conducted by other private audit accounting organisations had identified multiple instances of diversion of funds by the accused for personal benefits and falsification of books of accounts to camouflage & conceal dubious transactions.
The audits also identified several instances where large value loans were provided to such fictitious entities without due diligence and without securities. Instances of sanction and disbursement of loans, merely by email communications were allegedly found for which no loan files were maintained in the said private (Borrower) company.
Searches were conducted later at 12 locations in Mumbai at the premises of accused which led to recovery of incriminating documents. He was already chargesheeted by the CBI in connection with the case in 2022.
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