The Central Bureau of Investigation (CBI) on Tuesday arrested Dheeraj Wadhawan in the ₹34,000 crore DHFL bank fraud probe. Wadhawan was already charge-sheeted by the central agency in connection with the case in 2022.
The CBI had registered the DHFL case related to the alleged defrauding of a consortium of 17 banks to the tune of ₹34,000 crore, making it the biggest banking loan fraud in the country.
In February this year, the Securities Exchange Board of India (SEBI) had ordered the attachment of bank accounts as well as shares and mutual fund holdings of ex-DHFL promoters Dheeraj and Kapil Wadhawan, to recover dues worth ₹22 lakh.
The market regulator’s move came after the Wadhawan brothers failed to pay the fine imposed on them in July last year in a case concerning the flouting of disclosure norms.
The pending dues of ₹10.6 lakh each from Wadhawans comprise the initial penalty amount, interest, and recovery cost.
In July 2023, the regulator imposed a penalty of ₹10 lakh each on Wadhawans, who were promoters of DHFL (now known as Piramal Finance), for flouting disclosure norms.
Kapil Wadhawan was the Chairman and MD of DHFL, while Dheeraj Wadhawan was a non-executive director of the company. Both of them were on the board of DHFL.
In another development, the Delhi high court last Saturday had issued notice to the CBI on a plea of Dheeraj Wadhawan seeking bail on medical grounds.
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