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AgustaWestland Helicopter Seized From Pune Premises Of Builder As CBI Probes Rs 34,615-Cr DHFL Scam

The CBI had booked DHFL, its former CMD Kapil Wadhawan, Director Deepak Wadhawan and others on June 20 in the bank fraud case worth Rs 34,615 crore.

AgustaWestland helicopter
CBI seized a helicopter during search conducted at premises of builder Avinash Bhosale in Pune. (Image: ANI)

New Delhi: The Central Bureau of Investigation on Saturday seized an AgustaWestland helicopter from the premises of a builder accused in the multi-crore DHFL scam case. The CBI, probing the bank fraud worth Rs 34,615 crore, seized the AW109SP helicopter from the possession of builder Avinash Bhosale in Pune.

The helicopter was allegedly purchased by Varva Aviation, owned by an association of persons (AOP), in 2011 for Rs 36 crore, PTI quoted officials as saying. In 2017, RKW Developers Pvt Ltd, owned by the Wadhawan family of the DHFL Group, had allegedly paid crores of rupees for buying the membership to the association and for maintenance of the chopper.

It was reasonably apprehended that funds used by RKW Developers for buying stake in the association were sourced from loans sanctioned by various banks of the 17-member consortium which was cheated by DHFL and its former CMD Kapil Wadhawan and Director Dheeraj Wadhawan, among others, to the tune of Rs 34,615 crore, they said.

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After getting input about the investment, the CBI on Saturday seized the helicopter from a hangar at the premises of builder Avinash Bhosale at Baner Road, Pune, they said. The CBI has recently charge-sheeted Bhosale in a separate case of corruption in DHFL and Yes Bank, they said.

(Photo: India Ahead Network)

The federal probe agency had booked Dewan Housing Finance Ltd, the Wadhawan brothers and others on June 20 in the bank fraud case worth Rs 34,615 crore, making it the biggest such case probed by the agency, officials said.

It was alleged that they had cheated a consortium of 17 banks led by Union Bank of India by siphoning off Rs 34,615 crore bank loans by diverting them using falsified account books of DHFL.

(Photo: India Ahead Network)

They allegedly used shell companies and a parallel accounting system known as ‘Bandra Books’ to siphon off public funds in DHFL by disbursing money to fictitious entities as retail loans.

The agency acted on a complaint from Union Bank of India, the lead bank of the consortium which had extended credit facilities to the tune of Rs 42,871 crore to DHFL between 2010 and 2018. The bank has alleged that the Wadhawans in criminal conspiracy with others misrepresented and concealed facts, and committed a criminal breach of trust to cheat the consortium by defaulting on loan repayments from May 2019 onwards.

(Photo: India Ahead Network)

The irregularities came to light when the DHFL account books were audited. The audit found that the company allegedly committed financial irregularities, diverted funds, fabricated books, and round-tripped funds to “create assets for Kapil and Dheeraj Wadhawan” using public money.

(With PTI inputs)