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Chennai's EOW arrests DHFL promoters for cheating investors of Rs 218 cr

According to the police, a case was registered by the EOW on the direction of the Madras High Court, against DHFL and 11 others

Topics
DHFL | fraud

T E Narasimhan  |  Chennai 

DHFL
Investors cheated by DHFL have been requested to lodge complaints with the EOW

The Economic Offences Wing (EOW) of Chennai Police has arrested the promoters of Dewan Housing Finance Corporation Limited (DHFL), Kapil Wadhawan and Dheeraj Wadhawan.

According to the police, a case was registered by the EOW on the direction of the Madras High Court, against and 11 others, for the alleged offences of defrauding investors by floating bogus schemes and the non-repayment of Rs 218 crore of deposits collected.

Investors cheated by have been requested to lodge complaints with the EOW.

The accused, Kapil Wadhawan and Dheeraj Wadhawan, were produced by the EOW before the Special Court for cases under the TNPID Act in Chennai on Wednesday for judicial remand, according to the department.

According to reports, Kapil Wadhawan and Dheeraj Wadhawan are facing money laundering charges in the Yes Bank case. They were even arrested by the CBI and ED, but were released on bail later.

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First Published: Thu, October 08 2020. 21:42 IST
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