Iqbal Mirchi PMLA case: ED conducts raids on DHFL premises

Dewan Housing Finance Limited has come under the scanner of Enforcement Directorate (ED) after the federal probe agency found that a loan given by them reached the D-company in Dubai. Top sources within the agency maintain that investigators are reviewing the documents and soon DHFL will be called for questioning for giving loans to Sunblink Real Estate Private Limited.

Mumbai: The Enforcement Directorate (ED) on Saturday conducted searches at about a dozen premises of Dewan Housing Finance Corporation (DHFL) and other linked firms in connection with its money laundering probe against Iqbal Mirchi, the aide of global terrorist Dawood Ibrahim, officials said.

They said the raids are being conducted in and around Mumbai under the provision of the Prevention of Money Laundering Act (PMLA).

About a dozen premises are being searched, they added.

The Dewan Housing Finance Corp Ltd (DHFL) allegedly had business links with Sunblink Real Estate, the firm at the heart of investigations into the financial dealings of Mirchi. The DHFL had given loans of Rs 2,186 crore to the real estate firm.

The agency is looking for evidence in the form of documents and other paraphernalia as part of the latest operation, they said.

The DHFL earlier said it had no links to the alleged dubious transactions.

The ED turned up the heat in the money laundering case linked to the multi-crore real estate deals of Mirchi and others after recently arresting two of his alleged aides.