DHFL alleged by CBI for creating a scam in PM Awas Yojana, arrested

The Central Bureau of Investigation (CBI) has exposed crores of rupees of corruption under the Prime Minister's Housing Scheme. Kapil and Dheeraj Wadhwan, two promoters of Diwan Housing Finance Limited (DHFL), are the main accused in the scam. It is alleged that they have misappropriated around 2,000 crore rupees from the Center for subsidy by opening fake accounts and showing home loans worth Rs.1,000 crore. Kapil and Dheeraj are already in jail on charges of fraud and corruption. The CBI has filed a fresh case against them for corruption in the Prime Minister's Housing Scheme.



CBI arrested the directors of DHFL. Source: India TV


The Prime Minister's Housing Scheme project was launched in 2015 to build a solid roof over the economically backward and low and middle-income people. The CBI on Wednesday exposed the corruption under the project. DHFL also has a lending business to buy flats and houses. According to intelligence sources, DHFL has made crores of rupees by taking advantage of this business opportunity. According to government records, many people have taken home loans worth Rs. 14,000 crore from them under government projects. They deserve a subsidy of around Rs.1,060 crore for that.


According to the detectives, in December 2016, DHFL revealed that it had received the first government subsidy from investors. He said they have sanctioned 6,651 housing loans under government projects. On the basis of this, they got 539 crores 40 lakh rupees as a subsidy. There is an arrear of 1 thousand 348 crores 60 lakh rupees.


The CBI has recently launched an investigation into the matter. A forensic audit showed that DHFL had a branch at a fake address in Bandra, Mumbai. It is said that they have sanctioned a house loan of Rs.14,046 crore from 2008 to 2019 in 2 lakh 80 thousand accounts. However, all these accounts were fake. The paper shows that out of the 14 thousand 46 crore rupees that have been sanctioned for housing loans, 11 thousand 755 crore rupees have been deposited in various institutions. Those companies have also come to the fore as fictitious.

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