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The Central Bureau of Investigation (CBI) on Wednesday, 24 March, registered a new case against Dheeraj and Kapil Wadhawan – promoters of crisis-hit Dewan Housing Finance Ltd (DHFL) – in connection with a scam linked to the Pradhan Mantri Awas Yojana (PMAY).
The Wadhawan brothers had created fake home loan accounts amounting to over Rs 14,000 crore and availed Rs 1,880 crore in interest subsidy from the central government, according to the CBI FIR.
In December 2018, DHFL informed its investors that it had processed 88,651 loans under the PMAY scheme and received Rs 539.4 crore in subsidies, with a further Rs 1,347.8 crore due with the government.
“However, forensic audits revealed that the Wadhawan brothers had opened 2.6 lakh fake housing loan accounts, in a fictitious Bandra branch of the organisation. Several of the home loan accounts were under the PMAY scheme and claimed interest subsidies as per its rules,” the FIR alleged.
The Wadhawan brothers are already facing probe by the CBI and the Enforcement Directorate (ED) in connection with the Yes Bank case involving Rana Kapoor and the PMC bank case.
Both the brothers were arrested in April 2020 over fraud and money-laundering charges.
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