What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
NEW DELHI: The Central Bureau of Investigation (CBI) has seized an AgustaWestland helicopter from a hanger owned by arrested businessman Avinash Bhosale in Pune in the Rs 34,615-crore bank fraud involving DHFL, officials said on Saturday.
The agency discovered the helicopter during searches at Bhosale’s premises, a senior CBI official said, adding it has been carrying out searches in the case over the last few days and has seized several expensive paintings, watches, and jewellery.
During the probe into cheating of over Rs 34,615 crores of Union Bank of India-led consortium of 17 banks by DHFL, its promoters Kapil and Dheeraj Wadhawan, the CBI found that the Wadhwans owned RKW Developers Pvt. Ltd that allegedly has stakes in Varva Aviation, an Association of Persons, which owns the AW109SP Grand New Helicopter purchased in 2011.
RKW Developers Pvt. Ltd. joined Varva Aviation in 2017, contributing towards cost price and maintenance of the AgustaWestland helicopter, the official said, adding that Bhosale-owned ABIL Infraprojects Ltd has stakes in the helicopter.
The CBI’s action is based on its apprehensions that the funds used for making a payment towards the stake in the Association of Persons were sourced from loan funds sanctioned by different banks.
The case against DHFL was registered on a complaint from Union Bank of India, alleging that the Wadhwans cheated a consortium of 17 banks to the tune of over Rs 34,615 crore by siphoning off loans availed from the said banks and falsifying the books of said borrower company and creating shell companies or false entities, which had come to be known as “Bandra Book Entities”.
In the complaint, it was also alleged that DHFL and its promoters had created several shell companies and fictitious entities and siphoned off huge funds by disbursing funds to such fictitious entities.
