Today News Online Service
New Delhi, March 24
The CBI today claimed it has unearthed a scam in the Pradhan Mantri Awas Yojana (PMAY) and has registered a case against Kapil and Dheeraj Wadhawan, both brothers and promoters of crisis-hit Dewan Housing Finance Limited (DHFL).
The Wadhawans, who are currently under judicial custody in connection with another fraud case and on money laundering charges, allegedly created “fake and fictitious” home loan accounts amounting to over Rs 14,000 crore and allegedly availed Rs 1,880 crore in interest subsidy from the Government of India, officials in the agency said.
The housing scheme, in which the Central government gives interest subvention on the loan amount taken by economically weaker sections (EWS) and those from low and middle income groups, was announced by Prime Minister Narendra Modi in October 2015.
The subsidy is to be claimed by financing institutions – like DHFL – that have granted these loans.
The officials said, in December 2018, DHFL told investors it had processed 88,651 loans under PMAY and received Rs 539.4 crore in subsidies, with a further Rs 1,347.8 crore due.
“However, forensic audits revealed that Kapil and Dheeraj Wadhawan had opened 2.6 lakh fake housing loan accounts — several of which were under the PMAY scheme and claimed interest subsidies as per its rules — in a fictitious Mumbai’s Bandra branch of the organisation,” a senior CBI official said.
Between 2007 and 2019, “loans” amounting to Rs 14,046 crore were sanctioned to these accounts, the CBI in its FIR has alleged, of which Rs 11,755.79 were routed to other fictitious firms.
CBI registers case against promoters
- According to the CBI, the DHFL allegedly created “fake and fictitious” home loan accounts amounting to over Rs14,000 crore and allegedly availed Rs1,880 crore in interest subsidy from the govt
- In December 2018, DHFL told investors it had processed 88,651 loans under Pradhan Mantri Awas Yojana and received Rs539.4 crore in subsidies, with a further Rs1,347.8 crore due
- Forensic audits revealed it had opened 2.6 lakh fake housing loan accounts in a fictitious Mumbai’s Bandra branch of the organisation