DHFL promoter remanded in ED custody till Feb 7

The special Prevention of Money Laundering Act (PMLA) court on Monday remanded Dewan Housing Finance Corporation (DHFL) promoter Kapil Wadhawan, 46, to Enforcement

The special Prevention of Money Laundering Act (PMLA) court on Monday remanded Dewan Housing Finance Corporation (DHFL) promoter Kapil Wadhawan, 46, to Enforcement Directorate’s (ED) custody till February 7. Wadhawan was arrested on January 27 in connection with the money-laundering probe against late gangster Iqbal Mirchi.

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Wadhawan was discharged from a hospital, where he was undergoing treatment for fever since January 30, and produced before the court on Monday. During the proceedings, ED’s counsel, Sunil Gonsalves, had petitioned to remand Wadhawan in the agency’s custody for five days.

ED claimed that though they had previously obtained Wadhawan’s custody, its officers could not interrogate the accused as he had to be admitted to the hospital owing to his ill health.

DHFL came under ED’s scanner when the agency was examining three properties linked to Mirchi, an aide of fugitive gangster Dawood Ibrahim, in Worli.

“It has been revealed that the promoter of DHFL, Kapil Wadhawan, through his shell companies, purchased a property at Worli from Mirchi.

“The inquiry has further revealed that ₹12,773 crore was siphoned from DHFL by fraudulently claiming loans to 1 lakh fictitious customers using 79 paper companies. A part of this loan was used to make payment to Mirchi,” ED had previously alleged.

Meanwhile, the court directed the agency to file a reply on Wadhawan’s bail plea by Thursday.