Mumbai: The CBI is in the process of attaching a 100 million-pound property on the Strand in London, allegedly purchased by Pune businessman Avinash Bhosale using illicit funds from Dewan Housing Finance Limited (DHFL) and builder Sanjay Chhabaria’s Radius group.
In a recent supplementary chargesheet related to the DHFL-Yes Bank case, the CBI confirmed the property attachment process is underway. Bhosale, who was granted bail by the Bombay High Court in August after serving two years in prison, is accused of aiding in diverting funds and receiving kickbacks.
The CBI is also working on a request to the UK authorities for an investigation into the incorporation of M/s Flora Developments Ltd, its shareholding, financial reports, and the ownership and transfer of the London property.
Bhosale allegedly received Rs 569.22 crore from DHFL and Radius, of which Rs 300 crore was transferred to the UK through Flora Developments Ltd. The funds were then used to acquire the Strand property in 2018, which Bhosale intended to convert into a luxury hotel.
The agency also claims Bhosale received a loan of Rs 70 pounds from DHFL to fund the property purchase. Additionally, in 2017-18, DHFL allegedly paid Rs 68.82 crore to Bhosale’s firms under the guise of consultancy services for three of Chhabaria’s construction projects.
