Assets worth ₹415 crore of 2 builders have been seized in DHFL case

MUMBAI: The ED recently fined builder Avinash Rs. 415 crores of properties have been temporarily seized. Bhosale And Sanjay ChabriyaIn which Bhosale in South Mumbai Rs. 103 crore duplex flat and Chhabria’s Rs. 116 crores included. Santa Cruz In the land, Yes Bank-DHFL fraud and money laundering case.
Earlier, the ED had paid an earlier Rs. 1,412 crore properties were seized. DHFL Promoters Kapil and Dheeraj Wadhawan, and Yes Bank Co-founder Rana Kapoor.
In two separate orders issued by the ED this week, it linked Chhabria with Rs. 251 crore assets and Bhosale’s Rs. 164 crore properties have been seized. Apart from the land, Chhabria’s seized assets include a land parcel in Bengaluru worth Rs. 115 crore 25% equity shares, Rs. 3 crores included a flat at Santacruz, a profit of 13.7 crores from his hotel at the Delhi airport and three high stakes. 3. A luxurious car worth Rs 1 crore collectively. The Santacruz land parcel is where Chhabria proposed to construct the ‘Avenue 54’ building which he used to get a loan from DHFL, but failed to start.
Bhosale’s properties include a duplex flat, two land parcels in Pune worth Rs 44 crore and two plots in Nagpur worth Rs 17 crore.
It is alleged that the Kapoor-led Yes Bank invested non-banking financial company Dewan Housing Finance Corporation Limited (DHFL) with Rs. 3,700 crore, which diverted most of it to Chhabria’s Radius group. Both DHFL and Radius defaulted on payments. Wadhwas paid Kapoor as kickback Rs. 600 crore was paid.
Bhosale helped DHFL get loans for commission. The accused are accused of hatching a criminal conspiracy to harm Yes Bank and DHFL for personal gain.


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