DHFL Loan Fraud Worth ₹34,615 Crore: ED Attaches 154 Flats in Kurla

The Enforcement Directorate (ED) has made a significant breakthrough in the ₹34,615 crore DHFL loan fraud, attaching 154 flats and receivables against 20 additional units located in Kurla, Mumbai. The accused, Kapil and Dheeraj Wadhawan, allegedly siphoned off funds through DHFL using bogus loans and shell companies.

ED Seizes Properties Worth ₹186 Crore in DHFL Scam

On September 10, 2025, ED confirmed the attachment of 154 flats and receivables from 20 more in Mumbai’s Kurla locality. The total value of these assets stands at ₹186 crore. These properties were developed by the Wadhawan brothers themselves. This action is part of a broader money laundering probe against the Wadhawans for defrauding a 17-bank consortium led by Union Bank of India.

Total Attachments Climb to ₹256 Crore

Previously, ED had confiscated assets valued at ₹70.4 crore, including luxury items such as diamond jewellery, paintings, sculptures, high-end watches, 2 Bandra flats, and even a 20% share in a helicopter. With the new additions, the cumulative value of attached properties now reaches ₹256 crore.

Modus Operandi Behind the Fraud

The Wadhawan brothers allegedly manipulated DHFL’s books and dishonestly defaulted on loans after securing credit facilities worth ₹42,871 crore. Investigations reveal that ₹24,595 crore was channelled through 66 proxy entities under the pretext of inter-corporate loans. Of this, ₹11,909 crore remains unrecovered.

Read More: ED Registers Fresh PMLA Case Against Anil Ambani, Reliance Communications!

Fictitious Loans and the 'Bandra Books'

Among the most shocking findings was the disbursement of ₹14,000 crore in false housing loans to 1.8 lakh fictitious individuals, managed under secret ledgers dubbed the 'Bandra books.' These inflated books ultimately turned into non-performing assets, worsening the financial damage.

Conclusion

The attachment of ₹186 crore worth of Kurla flats marks a critical milestone in the investigation against DHFL’s promoters. With over ₹34,615 crore in alleged fraud, the case stands among India’s most significant financial scams, underlining the scale of unchecked lending and regulatory gaps.

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