CBI books DHFL directors over ‘fake’ home loan accounts

CBI files case against DHFL promoters for creating 2.6 lakh fake home loan accounts

The Central Bureau of Investigation (CBI) has filed an Fan FIR against two directors of Dewan Housing Finance Limited (DHFL) for allegedly creating 2.60 lakh fake home loan accounts and sanctioning loans worth around Rs 14,000 crore under the Pradhan Mantri Awas Yojana (PMAY) to fraudulently avail interest subsidy. The case has been registered against Kapil and Dheeraj Wadhawan, an official said. The FIR was registered on March 15.

According to FIR, DHFL created over 2.5 lakh fake home loan accounts in a non-existent branch purportedly located at Bandra, Mumbai between 2007-2019. The FIR alleges that an amount of Rs 11,755.79 crores were diverted to accounts created in name of shell companies out of the Rs 14,046 crores. DHFL had availed subsidy of Rs 1,887 crores under PMAY from the Center. The case as per officials has been registered by CBI after a forensic audit report was submitted by auditing firm Grant Thornton which revealed irregularities by DHFL. The loans were mostly granted and processed in the name of economically weaker sections, low and middle income groups. The CBI also suspects the involvement of some bank officials who are yet to be identified.