ED Freezes ₹51.75 Crore in DHFL Loan Fraud Investigation
The Enforcement Directorate has frozen ₹51.75 crore linked to a bank loan fraud case involving Dewan Housing Finance Corporation Limited and its promoters. This action follows a probe under the Prevention of Money Laundering Act, initiated by a First Information Report from the Central Bureau of Investigation based on a complaint from the Union Bank of India, representing a consortium of 17 banks. The FIR alleges that the accused, including Kapil Wadhawan and Dheeraj Wadhawan, conspired to cheat the banks, which had sanctioned credit facilities totalling ₹42,871.42 crore. The ED claims that approximately ₹34,615 crore was wrongfully lost due to misappropriation of loan funds. The investigation also revealed transactions involving a foreign asset in the UK, linked to the Wadhawans, used to settle liabilities arising from the fraud.
Published 1 day ago • 28 Aug 2026, 10:36 PM IST