NEW DELHI: Moving ahead in its probe into one of the biggest bank frauds in the country to the tune of ₹34,615 crores involving DHFL, the Central Bureau of Investigation (CBI) on Thursday said that it has carried out searches and recovered some precious paintings, watches and other expensive items worth ₹12.5 crores.
In a statement, CBI spokesperson RC Joshi said, “The Central Bureau of Investigation has conducted further searches in an ongoing investigation of a case related to alleged loss of ₹34,615 crores to the consortium of 17 Banks led by Union Bank of India.
He said two paintings made by FN Souza (1964) and another by SH Raza (1956) worth ₹5.50 crores, two watches of Jacob & Co & Frank Muller Geneve make worth ₹5 crores and gold and diamond jewellery including Bangles and Necklace worth ₹2 crores have been recovered.
According to CBI officials, the recoveries were made on the instance of arrested accused Dewan Housing Finance Limited (DHFL) former CMD Kapil Wadhawan and its director Dheeraj Wadhawan.
Joshi said that it was also alleged that the promoters had acquired expensive items using the diverted funds.
During the investigation, Kapil and Dheeraj of DHFL based in Mumbai were arrested and both are presently in CBI custody.
On July 9, The CBI carried out searches at the premises of Rebecca Dewan and Ajay Ramesh Nawandar, a close aide of Underworld gangster Chota Shakeel from whose premises the agency recovered a large number of paintings and sculptures, some cash and other incriminating documents valued around ₹40 crores.
A case was registered on a complaint from Union Bank of India, alleging that the accused cheated a consortium of 17 banks to the tune of over ₹34,615 crores 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.
It was also alleged that separate audits conducted by other private audit accounting organisations had identified multiple instances of diversion of funds by the accused for personal benefits and falsification of books of accounts to camouflage and conceal dubious transactions.
On June 22 this year, the CBI carried out searches at 12 locations in Mumbai at the premises of the accused which led to the recovery of incriminating documents.