Mumbai: The Enforcement Directorate (ED) on Thursday attached assets, including diamond jewellery and flats, worth more than ₹70 crore of DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan under the provisions of PMLA, 2002 in an alleged bank loan fraud case.
The attached assets are in the form of paintings and sculpture worth ₹28.58 crore, watches worth ₹5 crore, diamond jewellery worth ₹10.71 crore, 20% stake in a helicopter to the tune of ₹9 crore and two flats in Bandra worth ₹17.10 crore. Total attachment in this case stands at ₹2095.94 crore approx.
ED investigation revealed that the Wadhawans and other accused persons entered into a criminal conspiracy to cheat the consortium of 17 banks led by Union Bank of India (UBI). In pursuance of the said conspiracy, Kapil Wadhawan and others induced the consortium banks to sanction huge loans aggregating to ₹42,871.42 crore, the agency said.
It was found that the accused persons siphoned off and misappropriated a significant portion of the said funds by “falsifying” the books of the DHFL and dishonestly defaulted on repayment of the legitimate dues of the said consortium banks, thereby causing a loss of ₹34,615 crore to the consortium lenders.
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