The Enforcement Directorate has arrested the CMD of Dewan Housing Finance Ltd (DHFL), Kapil Wadhawan, in connection with its money laundering probe against dead gangster Iqbal Mirchi and others, officials said on Monday. They said Wadhawan has been arrested under the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating in the probe. The case relates to Mirchi's Mumbai properties, which have been called as proceeds of crime by the ED. Three such properties were sold to Sunblink, the company linked to Wadhawan brothers Kapil and Dheeraj.
The ED has filed a criminal case against Mirchi, his family members and others to probe money laundering charges for alleged illegal dealings in purchase and sale of costly real estate assets in Mumbai. Mirchi, who died in 2013 in London, was alleged to be the right-hand man of global terrorist Dawood Ibrahim in drug trafficking and extortion crimes.
On November 4, Bombay High Court sort a restraining against Kapil and his brother Dheeraj Wadhawan from leaving the country until the case is disposed of by the Court. The Counsel representing the Wadhawans had argued that his clients may have to travel abroad to raise funds. However, the argument was dismissed by the Bombay High Court. After Kapil Wadhawan, his brother Dheeraj Wadhawan DHFL joined the ED probe in the Iqbal Mirchi case on Tuesday. On the day when the agency carried out searches at the DHFL office in Mumbai, Dheeraj Wadhawan got himself admitted to Kokilaben Hospital in Mumbai.
Republic TV’s investigation raised some uncomfortable questions about DHFL’s role. Investigation revealed that a company called Sunblink Real Estate Private Ltd, which was involved in developing properties in Mumbai for Dawood Ibrahim’s right-hand man Iqbal Mirchi, received loans from an NBFC to the tune of Rs.2,186 crores. This has also been acknowledged by the agency. Republic TV accessed certain company documents which indicated that the NBFC in question could be DHFL. The agency too suspects that this loan received by Sunblink could be the proceeds of crime which perhaps may have been used in terror activities.
Following Republic TV’s mega investigation, ED carried out searches at the DHFL office in Mumbai. On Monday, Kapil Wadhawan of DHFL also joined the probe and handed over certain documents to the agency. Both the Wadhawan brothers could be called in for questioning once again, say sources.
(With PTI inputs)