MUMBAI: The ED recently provisionally attached properties worth Rs Rs 415 crore belonging to builders Avinash Bhosale and Sanjay Chhabriaa, including Bhosale’s duplex flat in south Mumbai worth Rs 103 crore and Chhabriaa’s Rs 116-crore Santacruz land, in the Yes Bank-DHFL fraud and money laundering case.
Earlier, the ED had attached properties worth Rs 1,412 crore belonging to erstwhile DHFL promoters Kapil and Dheeraj Wadhawan, and Yes Bank cofounder Rana Kapoor.
In two separate orders issued by ED this week, it has attached assets worth Rs 251 crore associated with Chhabriaa and properties worth Rs 164 crore of Bhosale. Besides the land, Chhabriaa’s seized assets included 25% equity shares worth Rs 115 crore in a land parcel at Bengaluru, a flat at Santacruz worth Rs 3 crore, Rs 13. 7 crore profit receivable from his hotel at Delhi airport, and three high-end luxury cars collectively worth Rs 3. 1 crore. The Santacruz land parcel is where Chhabriaa had proposed to construct the ‘Avenue 54’ building which he had used to get loans from DHFL, but failed to start.
Bhosale’s properties include the duplex flat, two land parcels in Pune collectively worth Rs 44 crore, and two land parcels in Nagpur worth Rs 17 crore.
It is alleged that Yes Bank, then led by Kapoor, had invested Rs 3,700 crore in the nonbanking financial company Dewan Housing Finance Corporation Ltd (DHFL), which diverted most of it to Chhabriaa’s Radius group. DHFL and Radius both defaulted on payments. The Wadhawans had paid Rs 600 crore as kickbacks to Kapoor.
Bhosale had helped DHFL get the loans for a commission. The accused are alleged to have entered into a criminal conspiracy to cause losses to Yes Bank and DHFL for personal gain.