Yes Bank case: CBI court extends custody of Kapil, Dheeraj Wadhawan till May 1

By: |
Published: April 29, 2020 7:38 PM

The duo was arrested from Mahabaleshwar in Maharashtra on Sunday and sent to the CBI custody till April 29 by the court, they said.

Yes Bank case, CBI court, DHFL, Rana Kapoor, Kapil Wadhawan, Maharashtra, Dheeraj Wadhawan, latest news on yes bankOn Wednesday, they were produced before the special CBI court, which extended the custody with the agency till May 1, the officials said.

A special CBI court has extended the custody of DHFL promoter Kapil Wadhawan and his brother Dheeraj till May 1 in connection with a corruption case against former Yes Bank CEO Rana Kapoor in which both are accused, officials said on Wednesday.

The duo was arrested from Mahabaleshwar in Maharashtra on Sunday and sent to the CBI custody till April 29 by the court, they said.

On Wednesday, they were produced before the special CBI court, which extended the custody with the agency till May 1, the officials said.

The Central Bureau of Investigation (CBI) is questioning both the accused about alleged property deals and business transactions between DHFL, RKW developers in which Dheeraj is the director, and Kapoor and his family members, they said.

”Several deals between DHFL and Kapoor and his family members’ company are under the CBI’s scanner, the officials said.”

According to the CBI, Kapoor, 62, allegedly entered into a criminal conspiracy with the Wadhawans for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.

The agency has alleged that between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of the tainted Dewan Housing Finance Corporation Ltd (DHFL).

In return, the Wadhawans allegedly paid kickbacks worth Rs 600 crore to Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, a company owned by Kapoors’ wife and children, the CBI had said after registration of an FIR on March 7.

“Kapil and Dheeraj Wadhawan were absconding since the beginning of the investigation and evaded joining probe,” Agency spokesperson R K Gaur said after their arrest on Sunday. The agency had procured non-bailable warrants against them from the court on March 17 yet they did not appear before the CBI or the court, he had said.”

They were held by the Satara police earlier this month while allegedly violating the prohibitory orders related to lockdown when a carcade carrying Wadhawan family members was stopped at Panchgani in Maharashtra.” They were kept at a quarantine facility in Mahabaleshwar by the district administration before the CBI took them into custody on April 26, he had said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Ola customers can now pay for rides with PhonePe; firm pitches for digital payments amid coronavirus
2Samsung now offering customer care service through WhatsApp for quick, contactless support
3SC grants interim bail to Unitech promoter Sanjay Chandra