Yes Bank scam: DHFL's Kapil and Dheeraj Wadhawan taken into custody by CBI
DHFL promotersKapil and Dheeraj Wadhawan have been taken into custody by the Central Bureau of Investigation (CBI) for their role in the Yes Bank scamcase.
- The brothers' trip to Mahabaleshwar was not in violation of the nationwide lockdown, but also the conditions of their bail.
- An inquiry has also been initiated against Maharashtra's home department principal secretary Amitabh Gupta for giving the Wadhawans' permission to travel during the lockdown citing a 'family emergency'.
The Central Bureau of Investigation (CBI) has taken Diwan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan into custody for their involvement Yes Bank scam case.
"The Satara Police has extended to the CBI all required assistance and an escort vehicle with guards up to Mumbai on a written request. The arrest procedures are going on," said Maharashtra Home Minister Anil Deshmukh.
They were granted protection from arrest even though there was an FIR in their name registered under the Prevention of Money Laundering Act (PMLA).
The two had been staying at a government guest house in Panchgani along with 21 other family members for violating lockdown rules, according Deshmukh.
They had been placed under institutional quarantine at the location on April 9 after it was revealed that the family had travelled from the Khandala to the family’s farmhouse in Mahabaleshwar.
Not only did the trip violate the nationwide lockdown but it was also in violation of their bail conditions, according to Poornima Kantharia, Maharashtra’s government pleader. DHFL’s Wadhawan brothers had filed for anticipatory bail which was opposed by the Enforcement Directorate (ED).
Earlier this week the Maharashtra police requested the CBI to take the Wadhawan brothers into custody.
"Upon the completion of their institutional quarantine period, the family has been shifted to their property in Mahabaleshwar till 6 May," said the senior official of Satara police.
An inquiry has also been initiated against Maharashtra's home department principal secretary Amitabh Gupta for giving the Wadhawans' permission to travel during the lockdown citing a 'family emergency'. he is already under 'compulsory leave'.
Gupta gave the family consent to travel in five vehicles. However, once they reached Mahabaleshwar it sparked a huge political row.
DHFL’s involvement in the Yes Bank fraud case
Yes Bank co-founder Rana Kapoor allegedly entered into a criminal conspiracy with
Between April and June 2018, the CBI believes that Yes Bank invested approximately ₹3,700 crore in short-term debentures of DHFL.
In addition, the bank also sanctioned a loan of ₹750 crore to RKW Developers, a DHFL group company, which had the other Wadhawan brother — Dheeraj — listed as the director.
That entire loan was transferred from RKW Developers to DHFL without investing anything in the Bandra reclamation project, for which it was sanctioned.
DHFL has allegedly siphoned off ₹31,000 crore from loans worth ₹97,000 crore from Yes Bank using a web of multiple shell companies.
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