The Central Bureau of Investigation (CBI) has arrested Dheeraj Wadhawan, a former director of Dewan Housing Finance Limited (DHFL), in connection with a massive Rs 34,000 crore bank fraud case.
According to officials, Wadhawan was arrested by the CBI in Mumbai on Monday, May 13, evening and was taken to Delhi, where he was presented before a special court on Tuesday, May 14, as reported by the PTI news agency.
Wadhawan had already been charge sheeted by the central agency in connection with the case in 2022.
Background of the case
The CBI has registered a case against the former DHFL promoters Dheeraj and Kapil Wadhawan, regarding an alleged Rs 34,000 crore banking loan fraud involving a consortium of 17 banks .
Earlier, the SEBI has also taken action against the Wadhawan brothers for not paying fines related to violating disclosure norms and their bank accounts, shares, and mutual funds worth Rs 22 lakh have been seized.
Also in July 2023, the duo were fines Rs 10 lakh each for violating disclosure regulations regulations during their tenure as former promoters of DHFL, now known as Piramal Finance.
Current status
Dheeraj Wadhawan has filed a bail plea in Delhi High Court due to health issues after a spinal surgery. The court has asked the CBI to respond, and the hearing is on May 17.
