The CBI has booked Dewan Housing Finance Ltd, its former CMD Kapil Wadhawan and director Dheeraj Wadhawan.

Both are in judicial custody in connection with previous fraud cases against them.

The action came on a complaint from the Union Bank of India (UBI)

The action came on a complaint from the Union Bank of India (UBI)

The bank has alleged that Kapil and Dheeraj Wadhawan in criminal conspiracy with others misrepresented and concealed facts.

When DHFL was hit by investigation in January 2019 after media reports on allegations of siphoning of funds surfaced.

The DHFL loan accounts were declared non-performing assets at different points of time by lender banks, they said.

The banks also issued a Look Out Cirular against Kapil and Dheeraj Wadhawan on October 18, 2019 to prevent them from leaving the country.

The DHFL and its promoters also disbursed Rs 14,000 crore as Project Finance but reflected the same as retail loans in their books.