Rs 35,000 bank con: Search at dance bar ex-boss premises in Mumbai | Mumbai News – Times of India

0
90

[google-translator]

banner img
According to CBI’s first information report, on the instruction of Wadhawan brothers, DHFL had disbursed loans in favour of companies controlled by them.

MUMBAI: CBI carried out searches at the premises of erstwhile promoters of DHFL, Kapil Wadhawan, his brother Dheeraj, builder Sudhakar Shetty of Sahana group and companies associated with them on Wednesday after registering a Rs 34,615 crore bank fraud case against them.
CBI said that they conducted searches at 12 locations in Mumbai and recovered documents.
It is alleged that DHFL had availed of credit facilities to the tune of Rs 42,871 crore from the Union Bank of India-led consortium of 17 banks, and they diverted it to companies of his associates in the form of loans. Afterwards DHFL defaulted on repayment of the outstanding loan amount of Rs 34,615 crore to the consortium.
The Wadhawan brothers had diverted substantial amounts of the money into the companies controlled by Sudhakar Shetty. The consortium is the complainant in the case.
Afterwards, the borrower of DHFL also defaulted on its loan repayment, causing loss to the company.
Shetty owned the infamous Deepa dance bar in Vile Parle West over a decade and half ago before venturing into the construction business. CBI named him along with companies controlled by him in the case along with the Wadhawan brothers.
Earlier the ED had arrested the Wadhawan brothers in Yes Bank loan fraud and Iqbal Mirchi cases. The brothers are in judicial custody.
According to CBI’s first information report, on the instruction of Wadhawan brothers, DHFL had disbursed loans in favour of companies controlled by them. The FIR further said, “A part of the money had been diverted to companies controlled by the erstwhile DHFL promoters (Kapil and Dheeraj) and Sahana Group, where they also have prima facie financial interest.”
CBI issued a press note saying, “Instances of sanction and disbursement of loans, merely by e-mail communications, were allegedly found for which no loan files were maintained in the said private (borrower) company.”
Among the total defrauded amount, the Wadhawan brothers allegedly used 66 entities associated with them for diverting Rs 24,595 crore from DHFL in the guise of loans, of which Rs 11,909 crore payment is still outstanding. Also, DHFL disbursed Rs 14,000 crores of false loans on names of 1,81,664 non-existent persons and maintained those records after referring to it as ‘Bandra Books’.
The press note said, “The accused cheated a consortium of 17 banks led by Union Bank of India to the tune of over Rs. 34,615 crore (approximately) by siphoning off loans availed from the said banks and falsifying the books of said private (Borrower) company and creating shell companies/false entities, which came to be known as ‘Bandra Book Entities’.”

FOLLOW US ON SOCIAL MEDIA

FacebookTwitterInstagramKOO APPYOUTUBE

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here