CBI court extends Kapil Wadhawan, Dheeraj Wadhawan’s custody in Yes Bank scam till May 10
New Delhi: The CBI (Central Bureau of Investigation) custody of Dewan Housing Finance Ltd (DHFL) promoters Kapil Wadhawan and Dheeraj Wadhawan was on Friday prolonged until May 1. The central probe company sought an extension of their custody, saying they should interrogate the duo additional.
The businessmen-brothers are dealing with costs of economic irregularities in instances filed by each Enforcement Directorate (ED) and CBI.
Both the brothers are at the moment in CBI custody in reference to the Yes Bank rip-off by which former Yes Bank CEO and co-founder Rana Kapoor can also be a co-accused.
The Wadhawan brothers, who had been arrested on April 26, had been remanded to CBI custody until April 29, which was later prolonged to May 1 after which May 8. The duo was arrested from Mahabaleshwar, a hill station greater than 300km from Mumbai, almost 50 days after they had been booked within the multi-crore rip-off additionally involving former Yes Bank CEO and co-founder Rana Kapoor.
Both the brothers are at the moment in CBI custody in reference to the Yes Bank rip-off by which former Yes Bank CEO and co-founder Rana Kapoor can also be a co-accused.
The company has alleged that Yes Bank founder Rana Kapoor, 62, entered right into a prison conspiracy with the Wadhawans for extending monetary help to DHFL by way of Yes Bank in return for ‘substantial undue advantages’ to himself and his members of the family by way of firms held by them.
In return, the Wadhawans allegedly ‘paid kickback of Rs 600 crore’ to Kapoor and members of the family within the type of loans to DoIT Urban Ventures (India) Pvt Ltd held by the spouse and daughters of Kapoor.
According to the CBI FIR, the rip-off began taking form between April and June 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL).
The promoter duo has been charged by the ED in two instances – alleged irregularities within the funding of Employees Provident Fund (EPF) of the Uttar Pradesh Power Corporation Ltd (UPPCL) and the opposite pertains to laundering of over Rs 4,000 crore by way of Yes Bank. The ED will get the duo’s remand after their CBI custody ends.
Kapil and Dheeraj Wadhawan had been arrested by the CBI with the assistance of Satara district authorities from Mahabaleshwar, a preferred hill station situated greater than 300km from Mumbai.
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