Former director of Dewan Housing Finance Limited (DHFL) Dheeraj Wadhawan has been sent to judicial custody by a special court in Delhi in the ₹34,000 crore bank fraud case. The Central Bureau of Investigation (CBI) detained Wadhawan from Mumbai on the evening of 13 May. After this, today he was presented in the special court, from where he has been sent to judicial custody. CBI had already filed a chargesheet against him in 2022 in connection with this case. Earlier, Wadhawan was detained by CBI in the Yes Bank corruption investigation and was later released on bail. This case of fraud with a consortium of banks This case is related to the alleged fraud with a consortium of 17 banks and it is being called the biggest banking loan scam in India. The accused firms had started taking loans from the consortium of 17 banks led by Union Bank of India since 2010. This loan was declared NPA at different times. The investigation was initiated after media reports surfaced on allegations of fund diversion, round tripping and misappropriation of funds. After this, the lending banks held a meeting on 1 February 2019.
