ED Freezes Rs 51.75 Crore Bank Deposit in ₹34,615 Crore DHFL Fraud Case

New Delhi: The Enforcement Directorate (ED) has frozen a bank deposit worth about $5.41 million, or Rs 51.75 crore, as part of its money-laundering investigation into the alleged Rs 34,615 crore DHFL bank fraud.

The action followed searches conducted against Dewan Housing Finance Corporation Ltd (DHFL) on August 19 under the Prevention of Money Laundering Act (PMLA), the agency said on Friday.

UK Property Deal Under Scanner

According to the ED, its investigation examined Hurtmore House, a UK property held in the name of Vanita Wadhawan, wife of Kapil Wadhawan.

The agency alleged that the property was disposed of through transactions involving the creation of a fictitious liability. A purported loan agreement was executed between Al Jalore Trading FZE and Vanita Wadhawan, following which the property was mortgaged.

The ED claimed the arrangement created an encumbrance over the overseas asset to settle a liability in India linked to the DHFL loan fraud.

After the property was sold in 2026, the sale proceeds were allegedly transferred to Al Jalore Trading FZE’s Indian bank account instead of the registered owner.

Rs 51.75 Crore Frozen

During the searches, investigators examined the company’s account and froze approximately $5.41 million under the PMLA. Documents connected with the transactions were also seized.

The investigation stems from a CBI FIR filed following a Union Bank of India complaint on behalf of 17 banks.

The lenders had sanctioned Rs 42,871.42 crore in credit facilities to DHFL. Investigators allege diversion and misappropriation of funds caused losses of around Rs 34,615 crore.

Further investigation is underway.