DHFL bank fraud case: ED attaches assets worth Rs 185 crore including 154 flats

The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 185.84 crore in connection with the Dewan Housing Finance Corporation Ltd. (DHFL) bank fraud case. The move covers both immovable and movable assets, including 154 flats and receivables from 20 flats in Mumbai.

The action is part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), 2002, targeting DHFL promoters Kapil Wadhawan, Dheeraj Wadhawan, and other accused individuals for allegedly cheating a consortium of 17 banks led by Union Bank of India.

ED’s probe, based on a CBI FIR, revealed that the accused siphoned off and misappropriated bank loan funds by falsifying DHFL’s books. Between 2017 and 2018, Kapil and Dheeraj Wadhawan are alleged to have diverted funds through proxy companies and inter-corporate deposits (ICDs) to manipulate DHFL’s share prices and trading volumes using brokers.

Earlier, ED had issued provisional attachment orders for assets worth Rs 70.39 crore. A prosecution complaint was filed before the Special PMLA Court in Mumbai on April 3, 2025, and cognizance was taken on May 2.

With the latest attachment, the total value of assets attached in this case now stands at Rs 256.23 crore.

ED said further investigation in the case is ongoing.

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