The Central Bureau of Investigation has arrested a Mumbai-based businessman, Ajay Ramesh Nawandar, in connection with the ₹34,615-crore bank fraud case involving Dewan Housing Finance Corporation Limited (DHFL), its promoters and others.
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During the searches on July 8, the agency had seized two paintings estimated to be worth about ₹35 crore, besides luxurious watches worth more than ₹1 crore and other articles from the premises of the accused. The CBI suspects that the artworks and watches belong to the DHFL’s former chairman-cum-managing director Kapil Wadhawan and director Dheeraj Wadhawan.
