ED Cracks Down on DHFL: Rs 186 Crore Assets Attached in Loan Fraud Case

The Enforcement Directorate (ED) has taken decisive action in a high-profile bank loan fraud case, announcing the provisional attachment of assets valued at approximately Rs 186 crore. The allegation involves Dewan Housing Finance Corporation Ltd (DHFL) and its promoters, with the ED targeting potential money laundering operations tied to the case.

In a detailed statement, the federal agency identified 154 flats alongside movable receivables linked to 20 Mumbai flats. These assets fall under the purview of the Prevention of Money Laundering Act (PMLA), influenced by findings from the Mumbai zonal office as of September 5.

Rooted in a CBI FIR, the case highlights accusations against DHFL heads Kapil and Dheeraj Wadhawan. The duo allegedly orchestrated a scheme to siphon and mismanage loan funds, further deploying stub companies for deceitful share trading. A cumulative asset attachment now totals Rs 256.23 crore.

(With inputs from agencies.)