MUMBAI : Troubles for the debt-ridden Dewan Housing Finance Ltd (DHFL) escalated on Monday after the Enforcement Directorate (ED) arrested its chairman and managing director Kapil Wadhawan in connection with the Iqbal Mirchi money laundering and illegal funding case. Wadhawan has been remanded to ED custody till 29 January. "Wadhawan has been arrested for questioning, ED seeks his custody from the special court for further investigations in the case," said an official with the probe agency. The company is under investigation for having links with deceased gangster Iqbal Mirchi Menon. These properties were used to launder money and were allegedly purchased through loans availed from DHFL by Sunblink in 2010-11.

Source: Mint January 27, 2020 12:14 UTC