CBI recordsdata case in opposition to Devan Housing Finance Company Restricted (DHFL) administrators for embezzling Rs 34,615 crore from a consortium of banks. The case is in opposition to Kapil Vadhavan, the CMD of the Mumbai-based housing firm, and Dheeraj Vadhavan, the director. It’s reported to be the most important financial institution fraud within the nation and the most important mortgage rip-off being investigated by the CBI. The administrators of ABG Shipyard have been accused of embezzling Rs 22,842 crore from the SBI-led consortium, the most important rip-off ever investigated by the CBI.
DHFL borrowed Rs 42,871 crore throughout 2010–18 from a consortium of 17 banks led by Union Financial institution of India. Union Financial institution wrote a letter to the CBI on February 11 final yr requesting an inquiry into the irregularities discovered by the auditors.
Each are in judicial custody in a case filed by the CBI and Enforcement in reference to a mortgage take care of Sure Financial institution founder Ranakapur. Billions of financial institution mortgage frauds proceed beneath the Modi authorities. Vijay Mallya, Neerav Modi and Mehul Choksi had left the nation after committing huge scams.
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