CBI Recovers paintings watches and gold diamond jewelry of around Rs12 crores related to biggesCBI

CBI Recovers paintings watches and gold diamond jewelry worth crores - India TV News
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CBI Recovers paintings watches and gold diamond jewelry worth crores


  • Search in connection with the country’s biggest bank scam
  • Paintings and luxury watches worth crores found by CBI
  • Goods worth about Rs 12 crore seized in the raid

CBI (Central Bureau of Investigation) has conducted fresh searches in connection with the country’s biggest bank scam involving DHFL, in which India’s famous painters F.N. Souza and S.H. A painting of Raza has also been found. The cost of his paintings is estimated to be around Rs 5.5 crore. Officials said that in the luxury goods of about Rs 12 crore seized after the raid, S.H. Oil painting by Raza on canvas in 1956 titled “Village” and F.N. Souza in 1964 on linen (fabric) worth Rs 3.5 crore and Rs 2 crore.

Luxury watches worth Rs 5 crore recovered

A statement issued by the CBI said that during the raids, the central agency also seized two super luxury watches of Jacob & Co. and Frank Muller Geneva, whose total value is around Rs 5 crore. The CBI has been interrogating former CMD of Dewan Housing Finance Corp Ltd (DHFL) Kapil Wadhawan and director Dheeraj Wadhawan for the last nine days by custodial interrogation. Officials said that during interrogation it was found that he had bought these paintings from an auction house in Fort, Mumbai. He said that when the CBI came to know about the whereabouts of these items, it seized these properties after conducting raids.

Diamonds and jewels worth crores found in the raid
According to officials, during the raids, the CBI has found gold and diamond ornaments, including bracelets and necklaces, which are worth around Rs 2 crore. It is worth noting that about 20 days ago, the CBI had recovered painter Tyab Mehta’s painting ‘Bull’ and an untitled picture of Manjeet Bawa worth Rs 27 crore and Rs 7.7 crore respectively. The CBI had said that the artefacts made by Mehta and Bawa are part of a large number of photographs, sculptures found totaling around Rs 40 crore.

Bank fraud case of Rs 34,615 crore
During this period cash and documents indicating involvement in the crime have also been recovered, the agency said. According to the statement, “During investigation it was found that the promoters invested money earned from the alleged scam in other sectors. It is also alleged that the promoters used the embezzled money to buy expensive paintings and artworks.” was the largest of such cases being carried out.

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