Thu Jan 23 07:45:40 UTC 2025: **CBI Closes DHFL Fictitious Loan Account Case**
**New Delhi, January 23, 2025** – The Central Bureau of Investigation (CBI) has closed its investigation into Dewan Housing Finance Limited (DHFL) over allegations of 2.6 lakh fictitious home loan accounts. After a three-year probe, the agency found insufficient evidence of criminal conspiracy to support the allegations.
The investigation stemmed from a report by Grant Thornton, an auditor appointed by DHFL’s new board, which highlighted irregularities. The CBI had alleged that DHFL created fake accounts totaling ₹14,046 crore, many of which were allegedly linked to the Pradhan Mantri Awas Yojana (PMAY) to fraudulently claim interest subsidies. The agency’s initial FIR claimed that a fictitious branch in Bandra was used to process these accounts, with a significant portion of the funds routed to shell companies. While DHFL processed 88,651 PMAY cases and received ₹539.40 crore in subsidies, it was allegedly expecting another ₹1,347.80 crore.
The CBI has submitted its closure report to a special court in Delhi. The court will now decide whether to accept the closure or order further investigation. The promoters, Kapil and Dheeraj Wadhawan, were also named in the initial complaint.
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