Massive Impact: DHFL director Dheeraj Wadhawan quizzed by ED

In a massive impact after Republic Media Network’s investigation into alleged links of Sunblink Real Estate Private Limited with Dewan Housing Finance Limited (DHFL), Enforcement Directorate (ED) on Saturday is questioning DHFL director Dheeraj Wadhawan. Earlier in day, ED has raided more than eight locations, including DHFL premises in Bandra. 

Earlier, Republic Media Network accessed balance sheet of Sunblink Real Estate Private Limited. As per balance sheet of Sunblink Real Estate Private Limited, it shows under a certain Schedule B titled Secured Loans, that  “Dewan Housing Finance Corporation Ltd” gave a secured loan of Rs.79,791,085 to company. Subsequently, under Schedule C of very same documents, it appears to show that an unsecured loan of Rs 141,306,394 was given to Sunblink Real Estate Pvt Ltd.  

Previously, a document accessed by Republic Media Network indicated that DHFL approved “consolidation of loans along with security perfection amounting to Rs 2,186 crores” to Sunblink Real Estate Private Limited. 

EXCLUSIVE: Papers showing Sunblink-D-Gang's associate links accessed

DHFL response to Sunblink links

DHFL in a statement has denied any direct handing of loans to Sunblink Real Estate Private Limited. statement issued by company said, "As regards transaction in question DHFL had funded certain projects of various companies. Due to market conditions borrowers had streamlined ir internal operations whereby y have by certain corporate actions undertaken recently merged certain of ir companies into Sunblink. As a result, as on date, Sunblink is mentioned as a borrower. amounts mentioned were t lent to Sunblink as alleged in article. DHFL actions have been only to enhance its security cover and cash flow receivables on lending.”

DHFL states 'never lent Sunblink' over ED probing NBFC funding D-gang

ED investigation into D-gang

ED is currently investigating business dealings of entire D-Company, particularly those of Iqbal Memon alias Iqbal Mirchi. Sources state that ED had told a Mumbai court that “Rs 2186 crores was received as loans on proceeds of crime by Sunblink Real Estate Pvt Limited from an NBFC”. ED has t named NBFC in question.

STING IMPACT: ED searches at 8 locations including DHFL premises

Republic TV's sting on D-Gang

Meanwhile, Republic TV's sensational sting on Friday exposed D-Gang's continued control over Mumbai property market. It revealed Mirchi and D-gang's alleged links with Mumbai developers in around same period 2007-2008. Republic has caught on tape Mumbai-based developer Jayant Soni on camera talking about Iqbal Mirchi's influence in real estate business at that time. Soni t only spoke of his own personal meeting with Iqbal Mirchi but also revealed an alleged deal between Iqbal Mirchi and a certain “Dheeraj” for D-gang linked properties - Rabia Mansion and Samudra Mahal. He reveals how he was sidelined from deal for a well-connected man, he identifies as “Dheeraj”, in spite of having signed an MoU regarding properties. As per Soni's divulgences, he was unceremoniously shunted out of deal when ar developer - Sunblink - entered fray with a larger offer, despite Soni having entered into an MoU. On his being removed from deal, Soni claimed that Mirchi, whom he had met via an intermediary Humayun Merchant, himself asked him to "get out" of deal.