DHFL investigation: Data from 95 front companies found, helicopter seized, says CBI | Latest India News

New Delhi: The Central Bureau of Investigation (CBI) found voluminous documents and digital data linked to 95 front companies in its investigation into the A 34,615 crore bank fraud by Dewan Housing and Finance Limited (DHFL), officials said, adding that the agency also seized an AgustaWestland helicopter from the premises of builder Avinash Bhosale in Pune on Saturday in connection with the case .

CBI made claims in a Delhi court on Saturday while seeking custody of former CMD Kapil Wadhawan and director Dheeraj Wadhawan of DHFL, who are accused of embezzling funds from a consortium of 17 banks led by Union Bank of India.

“They must be confronted with the dummy directors of front companies whose funds have been embezzled by DHFL and recovered from the banks. The defendants should also be questioned as to the whereabouts of the remaining paintings and other valuables acquired with the embezzled funds,” CBI told the court seeking the Wadhawan brothers’ additional three-day custody. “It is highly likely that further questioning in custody of the two defendants could lead to the recovery of other valuables and other assets acquired with the amount of the defrauded loan.”

The Wadhawans have been held by the CBI since their arrest in the case on July 19.

CBI also claimed that Dheeraj Wadhawan had been “uncooperative” in the investigation and refused to give his voice samples despite being told the relevance of the same, a senior agency official said.

Opposing the CBI’s plea, the Wadhawans’ lawyer, Vijay Aggarwal, told the court: “Despite the previous 11-day warrant, the CBI has been unable to gather sufficient evidence to justify a detention. additional.”

“The alleged money trail is entirely documentary and can be verified without custodial questioning,” he argued.

Rejecting CBI’s appeal for further detention, the court sent the accused brothers into custody until August 5.

As part of its investigation, CBI also seized on Saturday a helicopter – AgustaGrand (manufactured by the Anglo-Italian company AgustaWestland) – bought by Varva Aviation, which is owned in a partnership, with RKW Developers Pvt Ltd, owned by the Wadhawans ( held by ) as a member.

The helicopter was parked inside a hangar belonging to another accused builder Avinash Bhosale in Pune. CBI, in its dismissal note submitted to Delhi’s Rouse Avenue Court on Saturday, said: “The value of the helicopter was 36 crore, out of which RKW contributed a substantial amount in 2017 to its participation in the cost price and maintenance of the helicopter.

CBI recently named Bhosale in its indictment filed in a separate bribery case at DHFL and Yes Bank.

In separate raids this month, first on July 8 and then on July 28, CBI recovered expensive paintings, watches and jewelry worth more than 52 crore in the case. These include two paintings by FN Souza and SH Raza, valued at 5.50 crore and painted in 1964 and 1956, respectively. Two Jacob & Co and Frank Muller Genève timepieces worth 5 crore, and gold and diamond bracelets and necklaces valued at 2 crore was also seized on Thursday.

On July 8, paintings worth 40 crore was recovered from the house of Ajay Navandar, a film distributor turned politician from Amravati in Maharashtra and a close associate of the Wadhawans. Paintings included Bull by Tyeb Mehta estimated at over 27 crores and an untitled coin of Manjit Bawa, appraised at more value 7.7 crores.

CBI alleged that between 2010 and 2018, the consortium of 17 banks extended credit facilities worth 42,871 crore to DHLL. The Wadhawans diverted the funds to shell companies/paper entities, known as “Bandra Book Entities”, and caused a loss of 34,615 crores to the consortium, CBI claimed.

The Wadhawan brothers were first arrested in the Yes Bank-DHFL fraud case on April 26, 2020 and have since been behind bars.