MUMBAI: Kapil Wadhawan, erstwhile promoter of Dewan Housing Finance Corporation Ltd (DHFL), a non-banking financial institution, ensured that his firm disbursed loans worth crores of rupees to city-based builder Sanjay Chhabria within a few minutes after receiving related requests without any documentation through online transfers at different points of time in 2018, said the CBI chargesheet against them filed in the court recently.
The CBI said that DHFL disbursed Rs 416 crore (of total over Rs 2,778 crore) to Chhabria Radius Group through the similar modus operandi at different times within a period of four months, in some cases the loan was disbursed on the next day of the application. It was further alleged that in all the instances (of Rs 416 crore loans) Radius Group kept the same 49 units of its ‘X BKC’ project at mortgage. The mortgaged 49 units offered to DHFL were ‘no unencumbered units’ and ‘the said 49 units simply did not exist.’, the CBI said.
