India's biggest bank fraud case worth 34,615 crores :DHFL booked under criminal conspiracy and cheating banks
In the biggest- ever loan fraud case in India, CBI has registered a case against Kapil Wadhawan and Dheeraj Wadhawan of DHFL for allegedly cheating a institute of 17 banks led by the Union Bank of India to the tune of Rs,615 crore, making it the biggest banking fraud probed by the agency, officers said.
The agency, sources said, is conducting quests at 11 locales across the country at demesne associated with the indicted.
The CBI case has been registered on a complaint from Union Bank of India( UBI), which is the lead bank in the institute. As indicated by the UBI complaint, starting around 2010, the DHFL has expanded credit installations of over Rs,000 crore by the institute of which Rs,615 crore remain outstanding. The loan was blazoned NPA in 2019 and fraud in 2020.
The bank has contended that Kapil and Dheeraj Wadhawan in a felonious scheme with others, distorted and disguised verity, committed a felonious breach of trust and manhandled public means to swindle the institute to the quantum of Rs,614 crore by defaulting on credit remitments from May 2019 onwards.
The review of DHFL account books showed that the organisation purportedly devoted financial inconsistencies, diverted finances, fabricated books, and round- tripped means to “ produce means for Kapil and Dheeraj Wadhawan ” using public plutocrat.
Both are in judicial guardianship regarding former fraud cases against them.
According to the KPMG report, utmost of the deals of similar realities individualities were like investments in land/ parcels.
The UBI has contended that the KPMG inspection indicates “ significant fiscal irregularities, diversion of finances through affiliated parties, fabrication of books to show fraudulent missing retail loans, round- tripping of finances and utilisation of diverted quantities for creation of means by Sh. Kapil Wadhawan, Sh. Dheeraj Rajesh Kumar Wadhawan and their associates. ”
After having “ falsely assured ” lenders, the DHFL delayed interest payment scores to terms loans in May 2019 which continued later with account declarednon-performing means, they said.
Posts
Post a Comment