5 days ago
ED Freezes Rs 51.75 Crore Deposit in DHFL Fraud Probe
The Enforcement Directorate is investigating an alleged money-laundering case involving DHFL.
The agency froze about Rs 51.75 crore in a bank account.
Officials say the money represents alleged proceeds of crime.
The investigation includes a house in the United Kingdom called Hurtmore House.
The house was registered in the name of Vanita Wadhawan, the wife of Kapil Wadhawan.
The ED alleges that a made-up liability and loan agreement were used in transactions involving the property.
It also alleges that money from the property sale went to a company account rather than the registered owner.
The wider case involves alleged misuse of DHFL loans and remains under investigation.
The Enforcement Directorate froze a $5.41 million, or about Rs 51.75 crore, bank deposit linked to its DHFL money-laundering investigation.
The action followed searches against Dewan Housing Finance Corporation Limited on August 19 under the Prevention of Money Laundering Act.
The ED is examining transactions involving Hurtmore House, a United Kingdom property held by Vanita Wadhawan.
Investigators allege a fictitious liability and purported loan agreement were used to mortgage the property and settle an Indian liability linked to the alleged fraud.
The CBI case concerns Rs 42,871.42 crore in credit facilities allegedly siphoned off from DHFL, causing about Rs 34,615 crore in losses to 17 consortium banks.
- Who
- The Enforcement Directorate is investigating DHFL and its promoters, including Kapil Wadhawan and Dheeraj Wadhawan.
- What
- The ED froze approximately Rs 51.75 crore in a bank deposit as alleged proceeds of crime in the DHFL loan-fraud case.
- Where
- The searches involved DHFL, while the property under examination is Hurtmore House in the United Kingdom and the frozen account is in India.
- When
- The searches occurred on August 19; the articles say Hurtmore House was sold in 2026.
- Why
- The ED alleges that DHFL loan funds were diverted and that transactions involving the foreign property helped settle an Indian liability linked to the alleged fraud.
Key facts
- Frozen deposit
- Approximately $5.41 million, or Rs 51.75 crore
- Investigating agency
- Enforcement Directorate
- Legal framework
- Prevention of Money Laundering Act, 2002
- Search date
- August 19
- Credit facilities sanctioned
- Rs 42,871.42 crore
- Alleged lender losses
- Approximately Rs 34,615 crore
- Banks involved
- A consortium of 17 banks
- Property examined
- Hurtmore House in the United Kingdom
Sources
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