Mumbai police set to start criminal investigation against DHFL promoters
March 14, 2021
Action follows complaint made by a depositor in Metropolitan Court Nearly a year after the DHFL fraud came to light, the Mumbai police will ‘now’ start its criminal investigations against the housing finance company (HFC) and the promoter entities linked to it. On March 6, a Mumbai Metropolitan Court at Ballard Pier area directed the Mumbai police to investigate DHFL for cheating, fraud and funds siphoning under the Indian Penal Code (IPC).
Last year, a massive loan and deposit scam worth over ₹17,300 crore was unearthed by the auditors of DHFL and the details were submitted to the bankruptcy court. Following this, both the Central Bureau of Investigations (CBI) and Enforcement Directorate (ED) swung into action and started probing DHFL and its promoters including Kapil Wadhawan, Dheeraj Wadhawan, Township Developers India, Wadhawan Holdings, Dheeraj Township Developers, Wadhawan Conso