Yes Bank Fraud: DHFL Promoters Kapil And Dheeraj Wadhawan Sent To CBI Custody Till May 4

Between April and June 2018, Yes Bank invested ₹3,700 crores in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL), the CBI mentioned in the FIR.

India   |   27 April 2020 11:35 AM GMT / Updated : 2020-04-27T17:28:19+05:30
Editor : Prateek Gautam
Yes Bank Fraud: DHFL Promoters Kapil And Dheeraj Wadhawan Sent To CBI Custody Till May 4

Image Credit: Hindustan Times

The Central Bureau of Investigation (CBI) on Monday, produced Dheeraj and Kapil Wadhawan of Diwan Housing Finance Corporation Limited (DHFL) group before special CBI court. Both the brothers were arrested on Sunday afternoon from their farmhouse at Mahabaleshwar.

Maharashtra Home Minister Anil Deshmukh confirmed the same.

Between April and June 2018, Yes Bank invested ₹3,700 crores in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL). In return, the Wadhawans allegedly "paid a kickback of ₹600 crores" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, the CBI mentioned in the FIR.

The duo was under home quarantine for 14 days since April 23.

The CBI had received an arrest warrant against the duo after the family was seen vacationing in Mahabaleshwar.

On April 18, the brothers had got a stay on the execution of an arrest warrant after their lawyer pleaded that the two should not be arrested amidst the outbreak of a COVID-19 pandemic. The special court had granted them relief and put a stay on the warrant till May 5.

However, the CBI, which was not consulted while staying the warrant, approached the special court demanding to revoke the stay.

Wadhawans' interim relief was called off on Saturday, April 26 and a CBI team from Mumbai reached Satara on Saturday afternoon to arrest the two bothers and the two were brought to Mumbai by Sunday evening.

The CBI had received a non-bailable warrant against the two on March 17 but the two men were not arrested.

On April 9, the Wadhawans, with 23 people, violated the lockdown and travelled to Mahabaleshwar from Khandala after a senior home department official provided them with a free pass.

Wadhawan brothers are also being probed by the Enforcement Directorate in another case filed under the Prevention of Money Laundering Act, 2002 (PMLA) and is linked to late gangster Iqbal Mirchi.

Also Read: Govt May Introduce 6-Month Suspension On GST For Worst Hit Sectors Due To COVID-19

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