ED Attaches ₹40.40 Crore Assets Of Businessman Harish Dedhiya And Wife In ₹34,615-Crore DHFL Bank Fraud Case

Mumbai, November 2, 2026: The Enforcement Directorate (ED) has attached immovable properties worth Rs 40.40 crore belonging to Mumbai-based businessman and consultant Harish Dedhiya and his wife, Dhara Dedhiya, in connection with the alleged Rs 34,615-crore Dewan Housing Finance Corporation Ltd (DHFL) bank fraud case. The attached properties include land parcels and farmhouses at Karjat in Maharashtra and a residential property at Shanti Niketan in New Delhi.

The provisional attachment was carried out by the ED’s Headquarters Investigation Unit under the Prevention of Money Laundering Act (PMLA). According to the agency’s investigation, two Mumbai-based proprietorship firms belonging to the couple — Reliable Services and Millennium Services — received Rs 40.40 crore from DHFL during the financial year 2018-19 against invoices for services that were allegedly never rendered. The agency has identified the payments as proceeds of crime allegedly generated through the diversion of DHFL loan funds.

The investigation relates to the alleged bank fraud committed by DHFL and its promoters, Kapil Wadhawan and Dheeraj Wadhawan.

ED Searches Couple’s Premises In October

The latest action comes days after the ED conducted searches at around half a dozen premises linked to Dedhiya, his wife and their business concerns, including Mega Millennium Private Limited and Reliable Services. The searches on October 23 covered the company’s offices, the couple’s residential premises in Mumbai and Delhi, and a farmhouse in Karjat.

Probe Traces Alleged Diversion Of Loan Funds

The ED probe is based on the predicate offence registered by the Central Bureau of Investigation (CBI) following a complaint lodged by Union Bank of India on behalf of a 17-lender consortium. DHFL had received credit facilities aggregating Rs 42,871 crore from the consortium. The CBI alleged that the Wadhawan brothers and others conspired to siphon off and misappropriate the loan funds, causing a wrongful loss of approximately Rs 34,615 crore to the lenders.

The ED’s investigation has revealed that the Wadhawans allegedly controlled around 225 companies through family members, associates and employees. A forensic audit identified 66 entities linked to the promoters that received loans and advances exceeding Rs 29,100 crore.

The agency has further alleged that approximately Rs 11,549 crore was diverted from DHFL to 87 promoter-controlled entities through a fictitious Bandra branch. The funds were allegedly split and disguised as home loans in the names of around 2.60 lakh fictitious retail borrowers to inflate the company’s retail loan book, raise further borrowings and conceal related-party transactions.

ED Has Filed Prosecution Complaints

The ED has already filed a prosecution complaint before the Special Court under the PMLA in Mumbai against 17 accused, including the Wadhawan brothers, followed by a supplementary prosecution complaint against five more accused.

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The attachment of Dedhiya’s properties follows a prior enforcement move on August 19, when the agency froze $5.41 million (approximately ₹51.75 crore) linked to the liquidation of offshore assets belonging to the Wadhawan family.

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