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    Rs 34,000-crore DHFL loan fraud: CBI denies ‘pick & choose’ charge of selecting witnesses

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    By Kapil Wadhawan

    Copyright indiatimes

    Rs 34,000-crore DHFL loan fraud: CBI denies 'pick & choose' charge of selecting witnesses

    AgenciesDHFL

    New Delhi: The Central Bureau of Investigation (CBI) has denied charges of ‘pick and choose’ approach in selecting prosecution witnesses and accused, levelled by Kapil Wadhawan, promoter of embattled Dewan Housing Finance Ltd (DHFL). Wadhawan had earlier this month moved an application before a special CBI court here seeking to implead former LIC CMD GP Kohli and other senior employees of Piramal group who were earlier working in DHFL, as accused in the alleged loan fraud of ₹34,614 crore by DHFL.Appearing on behalf of Wadhawan, advocate Vijay Aggarwal argued that the said senior employees had jumped ship to Piramal group once it took over DHFL and the prosecution, instead of making these officials as accused, made them prosecution witnesses.Aggarwal argued that these chosen employees were allegedly extended huge benefits such as retention and ad-hoc bonuses but were not arrayed as accused.A local court had issued notice to CBI on Wadhawan’s application. In response, CBI told the court that the accusations levelled by Wadhawan were unsubstantiated and that those arrayed as witnesses are not involved in any wrongdoing which could have made them a co-accused in the case.Live EventsAlleging ‘pick and choose’ policy by the prosecution, Aggarwal had alleged that two persons, namely Harshil Mehta and Santosh Sharma who enjoyed similar benefits, have been accused by the prosecution.Wadhawan’s application further argued that GP Kohli was a director in DHFL and also held directorship in as many as eight companies of the Wadhawan Group. He was a member of important committees of DHFL, including the audit committee and the nomination and remuneration committee and actively participated in the finance committee meetings alongside the Wadhawan brothers. Despite such an integral role in the functioning and decision-making of the company, Kohli was made only a prosecution witness and not an accused, thereby raising serious questions on the malafide nature of investigation.Add as a Reliable and Trusted News Source Add Now!
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    Read More News onCBIKapil WadhawanDewan Housing Finance Ltdloan fraudprosecution witnessesinvestigationCentral Bureau of InvestigationdhflwadhawanPiramal group

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    (You can now subscribe to our Economic Times WhatsApp channel)Read More News onCBIKapil WadhawanDewan Housing Finance Ltdloan fraudprosecution witnessesinvestigationCentral Bureau of InvestigationdhflwadhawanPiramal group(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

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