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DHFL share price falls over 4% after ED arrests Kapil Wadhawan in money laundering case

Share price of DHFL fell over 4% to Rs 15.05 compared to the previous close of Rs 15.80 on BSE

twitter-logo BusinessToday.In        Last Updated: January 28, 2020  | 10:39 IST
DHFL share price falls over 4% after ED arrests Kapil Wadhawan in money laundering case
DHFL stock has lost 92% during the last one year. It has declined 9.82% since the beginning of this year

Dewan Housing Finance Ltd (DHFL) share price fell in early trade today after Enforcement Directorate (ED) on Monday arrested Kapil Wadhawan, the CMD of the crisis-hit firm in connection with its money laundering probe against the late underworld gangster and Dawood aide Iqbal Mirchi. Share price of DHFL fell over 4% to Rs 15.05 compared to the previous close of Rs 15.80 on BSE. DHFL stock has lost 92% during the last one year. 

It has declined 9.82% since the beginning of this year. Wadhawan was arrested under the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating in the probe, officials said.

Also read: Flipkart former CEO Sachin Bansal acquires DHFL General Insurance for Rs 100 crore

On Monday, Wadhawan appeared before a special PMLA court in Mumbai after ED asked the court to issue a non-bailable warrant against him and four others including Mirchi's wife Hazra, sons Junaid and Asif, and Sunny Bhatija (Kapil's brother-in-law). According to a PTI report, Wadhawan has been remanded in the ED custody till January 29.

DHFL, the country's leading housing financier, has come under the scanner of ED in connection with its alleged link with global terrorist Dawood Ibrahim's aide Iqbal Mirchi. ED investigations revealed that a loan of Rs 2,186 crore extended by DHFL to Sunblink Real Estate Private Limited had reached D-company in Dubai. Sunblink had facilitated routing of the amount to Mirchi.

Also read: DHFL posts loss of Rs 6,641 crore in Jul-Sep period, revenue falls 39.5%

By Aseem Thapliyal 

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