NEW DELHI: The CBI has filed an FIR against two directors of Dewan Housing Finance Limited (DHFL) for allegedly creating fictitious home loan accounts and sanctioning loans worth around Rs 14,000 crore under the Pradhan Mantri Awas Yojana (PMAY) to fraudulently avail interest subsidy.
The case has been registered against Kapil and Dheeraj Wadhawan, an official said. The FIR was registered on March 15.
According to FIR, DHFL created over 2.5 lakh fake home loan accounts in a non-existent branch purportedly located at Bandra, Mumbai between 2007-2019.
The FIR alleges that the accused claimed to have sanctioned and disbursed Rs 14,000 crore worth home loans on these accounts under the PMAY scheme.
Thereafter, the company allegedly deposited and routed Rs 11,755.79 crore of the loan amount to several fictitious firms, named ‘Bandra Book firms’.
For these fictitious loans, DHFL received Rs 539.40 crore interest subsidy, states the FIR adding that it was to further receive an interest subsidy of Rs 1,347.80 crore from the government taking the total amount to Rs 1,887 crore.
The CBI also suspects the involvement of some bank officials who are yet to be identified. The fraud came to light during an audit.