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The CBI has apprehended Dheeraj Wadhawan, a former director of DHFL

In a case involving a bank fraud of Rs 34,000 crore, the Central Bureau of Investigation (CBI) said on Tuesday that it has detained Dheeraj Wadhawan, the former director of DHFL.

 

Following his Monday night arrest in Mumbai, Wadhawan appeared before a special court in this city, which on Tuesday remanded him in judicial custody.

The lawsuit concerns the alleged fraud of a consortium of seventeen lending banks. According to the CBI officer, Dheeraj and his brother Kapil were previously detained in connection with the same case on July 19, 2022.

On October 15, 2022, the agency issued a charge sheet against 75 organizations, including Dheeraj and Kapil.

On December 3, 2022, the special court granted bail to the former directors of DHFL on the grounds that the investigation was not finished and the charge sheet was not submitted in its whole. The Delhi High Court also upheld this ruling.

The Special Court and the High Court “committed serious error of law” by disobeying the legal position established and decided by the highest court, according to the CBI’s petition to the Supreme Court ruling that set aside the bail orders.

The Union Bank of India, the head of the group that provided DHFL with loan facilities totaling Rs 42,871 crore between 2010 and 2018, filed a complaint with the CBI, leading to the arrest of the Wadhawans and other individuals. Lender banks designated DHFL loan accounts non-performing assets at various times, according to the authorities.

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