The Directorate of Enforcement (ED) has provisionally attached immovable properties worth ₹40 crore in connection with its ongoing money-laundering probe into the massive bank loan fraud orchestrated by Dewan Housing Finance Corporation Ltd (DHFL) and its promoters, Kapil Wadhawan and Dheeraj Wadhawan, officials confirmed on Monday, 2 November 2026. The attachment — carried out by the ED's Headquarters Investigation Unit under the Prevention of Money Laundering Act (PMLA), 2002 — covers land parcels in Karjat, district Raigad, Maharashtra, and a residential plot at Shanti Niketan, New Delhi.

Background of the DHFL Fraud Case

The ED investigation was triggered by an FIR registered by the Central Bureau of Investigation (CBI), AC-VI, New Delhi, under provisions of the Indian Penal Code, 1860 and the Prevention of Corruption Act, 1988. The complaint was filed by Union Bank of India on behalf of a consortium of 17 banks that had collectively sanctioned credit facilities worth ₹42,871 crore to DHFL.

According to the FIR, Kapil Wadhawan, Dheeraj Wadhawan, and others allegedly entered into a criminal conspiracy to defraud the lender consortium. Loan funds were reportedly siphoned off and misappropriated through falsification of DHFL's books of accounts, resulting in a wrongful loss of ₹34,615 crore to the consortium banks.

Scale of the Alleged Fraud: 225 Companies, Fictitious Borrowers

The ED's investigation revealed that the Wadhawans controlled around 225 companies, either directly or through family members, associates, and employees. Forensic audits of DHFL identified 66 entities connected to the promoters, to which loans and advances of over ₹29,100 crore were disbursed.

Investigators further found that ₹11,549 crore was diverted from DHFL to 87 promoter-controlled entities through a fictitious 'Bandra Branch.' Large disbursals to Wadhawan Group entities were allegedly split and disguised as home loans in the names of approximately 2.60 lakh fictitious retail borrowers. This inflated retail loan book reportedly enabled DHFL to raise further borrowings from banks, evade regulatory scrutiny, and conceal related-party transactions, the ED said.

Earlier Seizures and Chargesheet

This is not the first major enforcement action in the case. During search operations conducted on 19 August 2026, the ED had frozen $5.41 million (approximately ₹51.75 crore) linked to the disposal of a foreign asset belonging to the Wadhawan family.

The agency has already filed a chargesheet before the Special Court (PMLA), Mumbai, against 17 accused, including Kapil Wadhawan and Dheeraj Wadhawan, followed by a supplementary chargesheet against 5 additional accused.

Separately, investigation revealed that in 2018–19, DHFL diverted proceeds of crime worth ₹40.40 crore to two Mumbai-based proprietorship concerns — Reliable Services and Millennium Services — belonging to Harish Dedhiya and his wife Dhara Dedhiya. These payments were purportedly made against fictitious services that were never rendered, according to the ED.

What Happens Next

With the provisional attachment of the latest properties, the total value of assets secured by the ED in the DHFL case continues to grow. The matter remains before the Special PMLA Court in Mumbai, and further investigative actions cannot be ruled out as the probe into the wider network of promoter-controlled entities progresses.