OPEN APP
Home / News / India /  Bank scam: CBI to produce Kapil Wadhawan, Dheeraj Wadhawan in court today

Bank scam: CBI to produce Kapil Wadhawan, Dheeraj Wadhawan in court today

The agency will produce them before the Special CBI court on Tuesday along with alleged aide of Chota Shakeel Ajay Nawandar whose five day police remand is completing, they said.Premium
The agency will produce them before the Special CBI court on Tuesday along with alleged aide of Chota Shakeel Ajay Nawandar whose five day police remand is completing, they said.

  • CBI had acted on a complaint from the Union Bank of India (UBI), leader of 17-member lender consortium which had extended credit facilities to the tune of 42,871 crore between 2010 and 2018

Listen to this article

NEW DELHI : The CBI has brought Dewan Housing Finance Corporation Ltd's former Managing Director Kapil Wadhawan and Director Dheeraj Wadhawan to Delhi from Lucknow for a court hearing in connection with the 34,815 crore scam in banks, officials said.The CBI will seek Wadhawans' custody in connection with its FIR related to the scam. They were brought to Delhi on Monday evening

CBI will produce them before the Special court today along with alleged aide of Chota Shakeel Ajay Nawandar whose five day police remand is completing, they said.

Kapil and Dheeraj Wadhawan were in Lucknow in connection with the PF scam also probed by the agency, they said.

CBI had acted on a complaint from the Union Bank of India (UBI), leader of 17-member lender consortium which had extended credit facilities to the tune of 42,871 crore between 2010 and 2018.

The bank has alleged that the Wadhawans in criminal conspiracy with others misrepresented and concealed facts, committed criminal breach of trust and abused public funds to cheat the consortium to the tune of 34,615 crore by defaulting on loan repayments from May 2019 onwards.

The Central Bureau of Investigation (CBI) earlier arrested Ajay Ramesh Nawandar, an alleged aide of gangster Dawood Ibrahim's close associate Chhota Shakeel, in connection with an alleged bank fraud of 34,615 crore by Dewan Housing Finance Corporation Limited (DHFL).

During the investigation, his role was unearthed. He was in possession of costly articles and artcrafts belonging to DHFL's then chairman-cum-managing director Kapil Wadhawan and promoter director Dheeraj Wadhawan which were acquired from the funds diverted from DHFL.

When CBI conducted a search at his premises on July 8, they had recovered two paintings worth of 35 crore and ultra-luxury watches belonging to the Wadhwan brothers and other items worth of crores were recovered from his house, said a senior CBI official.

"He was questioned on July 8 over the recoveries and today he was formally arrested. Several artworks purchased from diverted funds were recovered from his house. The matter is under investigation. We will find out if there are more links in the 'investment'," said a senior CBI official.

On July 8, CBI searched the premises of Rebecca Dewan and Ajay Ramesh Nawandar in Mumbai and Dewan Villa, Mahabaleshwar which led to the recovery of a large number of paintings and sculptures, some cash & other incriminating documents. The value of artworks recovered during the search was estimated to be around 40 crore, as per initial estimates.

*With inputs from agencies

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout