Dewan Housing Finance Limited has come under the scanner of Enforcement Directorate (ED) after the federal probe agency found that a loan given by them reached the D-company in Dubai. Top sources within the agency maintain that investigators are reviewing the documents and soon DHFL will be called for questioning for giving loans to Sunblink Real Estate Private Limited which facilitated routing of Rs 2,186 crore to 1993 terror attack mastermind Dawood Ibrahim's close associate Iqbal Mirchi in Dubai.
DHFL, a non-banking financial corporation (NBFC), came under ED's lens for the first time when they were investigating about three properties linked to Iqbal Mirchi. The ED probe revealed that the properties suspected to be linked with Iqbal Mirchi had taken a loan of Rs 2,186 crore from an NBFC. This loan was allegedly transported and routed abroad in offshore accounts. When the NBFC was investigated, DHFL came under scanner.
The federal probe agency claims that during the investigation it was found that the three properties in question, Rabia Mansion, Marium Lodge and Sea View, were used by Mirchi to launder over Rs 2,100 crore.
According to the ED's document, "During the statement recorded under custody, the accused (Ranjeet Bindra) accepted meetings and further negotiations with Iqbal Mirchi in London in respect of the said three properties as broker and on behalf of Sunblink Real Estate Private Limited. He further acknowledged the delivery of cheques related to the deal issued in the favour of fake dummy tenants to Rinku Deshpande. He further stated that the family of Rinku Deshpande is having contact with Iqbal Mirchi and his family. He further provided information about huge transaction of Rs 2186 crore undertaken by Sunblink Real Estate Private Limited with regard to subject three properties."
DHFL belongs to the Wadhawan family who also own RKW Developers located at the HDIL building. RKW Developers director Ranjit Bindra acted as a broker to negotiate the deal with Iqbal Mirchi in London.
Primary investigation indicates that Bindra, who is known to have done deals with Wadhawans, also sealed deal for Iqbal Mirchi.
Sunblink's own account details show that it has been receiving hundreds of crores every year starting from 2010 from DHFL. In nine years, DHFL's own loan consolidation documents prove that it had approved Rs 2,186 for Sunblink Real Estate.