New Delhi, November 2, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 40 crore in Delhi and Maharashtra as part of its money-laundering investigation into the alleged bank loan fraud involving Dewan Housing Finance Corporation Ltd (DHFL) and its promoters, Kapil Wadhawan and Dheeraj Wadhawan.
The attachment was carried out by the ED’s Headquarters Investigation Unit under the Prevention of Money Laundering Act (PMLA), 2002. The properties include land parcels in Karjat, Maharashtra’s Raigad district, and a residential plot in Shanti Niketan, New Delhi.
The investigation stems from a CBI FIR registered on a complaint by Union Bank of India on behalf of a consortium of 17 banks. According to the FIR, the accused conspired to cheat the lenders, which had sanctioned credit facilities totalling Rs 42,871 crore to DHFL. The ED said loan funds were siphoned off through falsification of company accounts, causing an alleged wrongful loss of Rs 34,615 crore to the consortium.
The ED said its investigation found that the Wadhawans controlled around 225 companies, directly or through family members, associates and employees. Forensic audits identified 66 promoter-linked entities that received loans and advances exceeding Rs 29,100 crore.
Investigators also found that Rs 11,549 crore was diverted to 87 promoter-controlled entities through a fictitious “Bandra Branch”. Large disbursals were split and disguised as home loans in the names of around 2.60 lakh fictitious retail borrowers, enabling DHFL to raise further bank borrowings and conceal related-party transactions, the agency said.
The ED has already filed a chargesheet against 17 accused, including the Wadhawan brothers, before the Special Court (PMLA), Mumbai, followed by a supplementary chargesheet against five more accused. During searches on August 19, 2026, it had also frozen $5.41 million (Rs 51.75 crore) linked to the disposal of a foreign asset of the Wadhawan family.
The agency further alleged that DHFL diverted Rs 40.40 crore in 2018-19 to two Mumbai-based proprietorship concerns, Reliable Services and Millennium Services, owned by Harish Dedhiya and his wife Dhara Dedhiya, against services that were never rendered.
FOLLOW NOW
