DHFL

The Enforcement Directorate (ED) has attached assets worth Rs. 186 crore belonging to Dewan Housing Finance Corporation Limited (DHFL) in connection with a large-scale bank fraud investigation. The move is part of a wider crackdown on financial irregularities involving the company and its promoters, who are accused of orchestrating fraudulent transactions and misusing bank funds.

In a decisive regulatory action, the Securities and Exchange Board of India (Sebi) has permanently barred Kapil and Dheeraj Wadhawan, former promoters of Dewan Housing Finance Corporation Ltd. (DHFL), from participating in the securities market. The market watchdog also imposed a combined penalty of Rs. 120 crore for their role in one of India’s most significant financial fraud cases. The order follows an extensive investigation into allegations of fund diversion, fraudulent transactions, and investor deception.