MUMBAI: Enforcement Directorate (ED) provisionally attached assets worth Rs 70.4 crore of erstwhile DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, including paintings, sculptures and two flats at Bandra in Mumbai.
The attached assets are in the form of paintings, sculptures worth Rs 28.58 Crore, watches worth Rs 5 Crore, diamond jewellery worth Rs 10.71 crore, 20% stake in a helicopter to the tune of Rs 9 crore and two flats in Bandra worth Rs 17.1 crore.
In March, most of the attached assets were seized by the CBI, which included paintings made by F N Souza (1964) and S H Raza (1956). On the instructions of Wadhawan brothers, who were in jail in connection with a money laundering case, their close associate Ajay Navandar was searching for buyers to sell those paintings when the CBI had attached them in the case. Subsequently, the ED decided to attach them.
The CBI and ED are investigating the case, where Kapil, with the help of his brother Dheeraj, had availed credit facilities in the name of DHFL to the tune of Rs 42,871 crore from the Union Bank of India-led consortium of 17 banks.
The brothers then diverted the money from DHFL to companies associated with them in the form of loans. Afterwards, the DHFL defaulted on Rs 34,615 crore outstanding loan payment to the consortium.
The attached assets are in the form of paintings, sculptures worth Rs 28.58 Crore, watches worth Rs 5 Crore, diamond jewellery worth Rs 10.71 crore, 20% stake in a helicopter to the tune of Rs 9 crore and two flats in Bandra worth Rs 17.1 crore.
In March, most of the attached assets were seized by the CBI, which included paintings made by F N Souza (1964) and S H Raza (1956). On the instructions of Wadhawan brothers, who were in jail in connection with a money laundering case, their close associate Ajay Navandar was searching for buyers to sell those paintings when the CBI had attached them in the case. Subsequently, the ED decided to attach them.
The CBI and ED are investigating the case, where Kapil, with the help of his brother Dheeraj, had availed credit facilities in the name of DHFL to the tune of Rs 42,871 crore from the Union Bank of India-led consortium of 17 banks.
The brothers then diverted the money from DHFL to companies associated with them in the form of loans. Afterwards, the DHFL defaulted on Rs 34,615 crore outstanding loan payment to the consortium.
