Particle.news
Download on the App Store
5 ARTICLES
·
yesterday

ED Attaches Rs 185.84 Crore in Assets in DHFL Money-Laundering Probe, Taking Total to Rs 256.23 Crore

The action seeks to preserve suspected proceeds of crime under PMLA during ongoing court proceedings.

Mumbai, India - April 27, 2020: DHFL Promoters Kapil and Dheeraj Wadhawan accused in Yes bank fraud cases, have been taken into CBI Custody and has been produced in session court from CBI Headquarter BKC Bandra in Mumbai, India, on Monday, April 27, 2020. (Photo by Vijayanand Gupta/Hindustan Times) (Vijayanand Gupta/HT Photo)
Image

Overview

  • The Mumbai Zonal Office issued a provisional attachment on September 5 covering 154 flats and receivables linked to 20 additional flats in the city.
  • The cumulative value of assets attached in the DHFL case now stands at Rs 256.23 crore, following an earlier order for Rs 70.39 crore.
  • The investigation follows a CBI FIR based on a Union Bank of India complaint alleging cheating of a 17-bank consortium with losses of about Rs 34,615 crore.
  • ED findings allege siphoning of bank funds via proxy companies and inter-corporate deposits and pre-arranged trades in 2017–18 to inflate DHFL’s stock price and volumes.
  • Separately, ED conducted searches at 10 locations in Delhi and Bhopal in an IFCI-linked Rs 273-crore bank fraud case, reflecting wider enforcement activity.