DHFL case: CBI arrests Mumbai-based businessman

The company had registered the most important financial institution fraud case final month alleging {that a} consortium of 17 banks was cheated of ₹34,615 crore  

The company had registered the most important financial institution fraud case final month alleging {that a} consortium of 17 banks was cheated of ₹34,615 crore  

The Central Bureau of Investigation has arrested a Mumbai-based businessman, Ajay Ramesh Nawandar, in reference to the ₹34,615-crore financial institution fraud case involving Dewan Housing Finance Company Restricted (DHFL), its promoters and others.

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Through the searches on July 8, the company had seized two work estimated to be price about ₹35 crore, apart from luxurious watches price greater than ₹1 crore and different articles from the premises of the accused. The CBI suspects that the artworks and watches belong to the DHFL’s former chairman-cum-managing director Kapil Wadhawan and director Dheeraj Wadhawan.

“The seized gadgets had been allegedly acquired by the Wadhawans from the diverted funds. Performing on an enter that Mr. Nawandar was making an attempt to dispose them of on the occasion of the primary accused individuals, the company had carried out the searches. Mr. Nawandar was allegedly part of the conspiracy to eliminate the articles purchased utilizing the proceeds of crime,” stated a CBI official.

The company had registered the most important financial institution fraud case final month alleging {that a} consortium of 17 banks was cheated. Amongst these named within the FIR are Sudhakar Shetty of Sahana Group, Amaryllis Realtors, Gulmarg Realtors, Skylark Buildcon, Darshan Builders, Sigtia Constructions, Creatoz Builders, Township Builders, Shishir Actuality and Sunblink Actual Property.

By- The Hindu

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