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DHFL probe: Data of 95 shell companies found, helicopter seized, says CBI
“They need to be confronted with the dummy directors of shell companies in which the funds were diverted by DHFL availed from banks. The accused also need to be interrogated for finding out the whereabouts of remaining paintings and other valuables acquired from the diverted funds,” CBI told the court seeking three-day additional custody of the Wadhawan brothers.
New Delhi: The Central Bureau of Investigation (CBI) has found voluminous documents and digital data related to 95 shell companies in its probe into the ₹34,615-crore bank fraud by Dewan Housing and Finance Limited (DHFL), officials said, adding the agency on Saturday also seized an AgustaWestland helicopter from the premises of builder Avinash Bhosale in Pune in connection with the case.
CBI made the claims in a Delhi court on Saturday while seeking the further custody of DHFL’s former CMD Kapil Wadhawan and director Dheeraj Wadhawan, who are accused of diverting funds taken from a consortium of 17 banks led by Union Bank of India.
“They need to be confronted with the dummy directors of shell companies in which the funds were diverted by DHFL availed from banks. The accused also need to be interrogated for finding out the whereabouts of remaining paintings and other valuables acquired from the diverted funds,” CBI told the court seeking three-day additional custody of the Wadhawan brothers. “There is every likelihood that further custodial interrogation of both the accused may lead to recovery of further valuables and other assets acquired from defrauded loan amount.”
The Wadhawans are in CBI custody since their arrest in the case on July 19.
CBI also claimed that Dheeraj Wadhawan has been “non-cooperative” in the investigation and refused to give his voice samples despite being explained the relevancy of the same, a senior agency official said.
Opposing the CBI plea, Wadhawans’ lawyer Vijay Aggarwal told the court: “Despite the previous tenure of 11 days, CBI has not been able to garner adequate material to justify further custody.”
“The alleged money trail is entirely documentary and capable of verification without custodial interrogation,” he argued.
Dismissing CBI’s plea for further custody, the court sent the accused brothers to judicial custody till August 5.
As part of its probe, CBI on Saturday also seized a helicopter – AgustaGrand (manufactured by Anglo-Italian firm AgustaWestland) — purchased by Varva Aviation, which is owned by an association of persons, with Wadhawans-owned RKW Developers Pvt Ltd (owned by) as its member.
The helicopter was parked inside a hanger premises belonging to another accused builder Avinash Bhosale in Pune. CBI in its remand note submitted in Delhi’s Rouse Avenue court on Saturday said: “The value of the helicopter was ₹36 crore, out of which RKW contributed substantial amount in 2017 towards their stake in the cost price and maintenance of the helicopter.”
CBI has recently named Bhosale in its charge sheet filed in a separate case of corruption in DHFL and Yes Bank.
In separate raids this month, first on July 8 and again on July 28, CBI has recovered expensive paintings, watches and jewellery worth over ₹52 crore in the case. These include two paintings by FN Souza and SH Raza, valued at ₹5.50 crore and painted in 1964 and 1956, respectively. Two Jacob & Co and Frank Muller Geneve timepieces valued at ₹5 crore, and gold and diamond bangles and necklaces estimated at ₹2 crore were also seized on Thursday.
On July 8, paintings worth ₹40 crore were recovered from the house of Ajay Navandar, a film distributor-turned-politician from Amravati in Maharashtra, and a close associate of the Wadhawans. The paintings included Bull by Tyeb Mehta estimated at over ₹27 crore and an untitled piece by Manjit Bawa, assessed to be worth over ₹7.7 crore.
CBI has alleged that between 2010 and 2018, the consortium of 17 banks had extended credit facilities worth ₹42,871 crore to DHFL. Wadhawans siphoned off the funds to shell companies/paper entities, known as ‘Bandra Book Entities’, and caused a loss of ₹34,615 crore to the consortium, CBI has claimed.
The Wadhawan brothers were first arrested in the Yes Bank-DHFL fraud case on April 26, 2020 and have been behind bars since.
