ED attaches properties worth Rs 40.40 crore in DHFL bank loan fraud probe
The Enforcement Directorate has provisionally attached land at Karjat and a plot in New Delhi worth Rs 40.40 crore, alleging DHFL funds were diverted to two firms against fictitious services.
Key points
- The Enforcement Directorate provisionally attached immovable properties under the PMLA in its DHFL money-laundering probe, it said on 2 November 2026.
- The ED alleges DHFL diverted Rs 40.40 crore in 2018-19 to two Mumbai-based proprietorship concerns for services that were never rendered.
- The attachment is provisional and must be confirmed by the PMLA Adjudicating Authority; the ED says it aims to return proceeds to the lending banks.
The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 40.40 crore under the Prevention of Money Laundering Act (PMLA), 2002, in its money-laundering investigation into the bank loan fraud case against Dewan Housing Finance Corporation Ltd (DHFL) and its promoters, the agency said on 2 November 2026. The properties are land parcels at Karjat in Raigad district, Maharashtra, and a residential plot at Shanti Niketan, New Delhi.
What Happened
According to the ED, DHFL diverted proceeds of crime of Rs 40.40 crore in financial year 2018-19 to two Mumbai-based proprietorship concerns, against payments for services that the agency says were never rendered.
The ED's case arises from an FIR registered by the CBI on a complaint by Union Bank of India on behalf of a consortium of 17 banks. As per the FIR, the promoters and others conspired to cheat the banks, which had sanctioned credit facilities of Rs 42,871 crore to DHFL, and the FIR alleges a wrongful loss of about Rs 34,615 crore to the lenders.
The ED alleges that about Rs 11,549 crore was diverted from DHFL to 87 promoter-linked entities through a fictitious "Bandra Branch", where loans were disguised as home loans in the names of about 2.60 lakh fictitious retail borrowers. The agency said it has already filed a prosecution complaint against 17 accused before the Special Court (PMLA), Mumbai, followed by a supplementary complaint against five more, and had earlier frozen about US$ 5.41 million (about Rs 51.75 crore) during searches on 19 August 2026.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
What It Means
A provisional attachment stops the properties from being sold or transferred while the case continues. It is not final: the PMLA Adjudicating Authority must confirm it. The ED said it aims to restore the proceeds of crime to the consortium banks, and that further investigation is under way. The release does not say when any money may reach the lenders.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
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Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate