CBI arrests IRS officer, 2 others in alleged ₹1 crore bribe case linked to DHFL probe

CBI arrested three persons, including IRS officer working as deputy director with Serious Fraud Investigation Office in Chennai

The Central Bureau of Investigation (CBI) has arrested three persons, including an Indian Revenue Service (IRS) officer working as deputy director with the Serious Fraud Investigation Office (SFIO) in Chennai, in an alleged ₹1 crore bribery case.

DHFL had come under the scanner of the CBI and the Enforcement Directorate (ED) in March 2019 over allegedly suspicious transactions in 2018 involving the company and private bank Yes Bank.

The arrests were made after the advocate allegedly received an undue advantage of ₹20 lakh from the complainant as part payment of the demanded bribe of ₹1 crore, for and on behalf of the SFIO officer, CBI officers said on Thursday.

Officers identified the arrested individuals as IRS officer Harish Kumar Tanwar, Delhi-based lawyer B Sharma and Sharma’s relative A Sharma.

They were booked along with others for allegedly demanding a bribe of ₹1 crore from a person who was under an SFIO investigation in connection with an alleged cheating case involving Dewan Housing Finance Corporation Limited (DHFL). Tanwar, a 2017-batch IRS officer, was the investigating officer in the case.

After verifying the allegations of a bribe demand and registering the case, the CBI laid a trap and arrested Tanwar, B Sharma and A Sharma.

During searches at the premises of the SFIO officer and the advocate, suspicious material related to the case was recovered, the officers said. The CBI continues to probe the case to ascertain whether others were involved in the alleged irregularities.

DHFL had come under the scanner of the CBI and the Enforcement Directorate (ED) in March 2019 over allegedly suspicious transactions in 2018 involving the company and private bank Yes Bank.

The ministry of corporate affairs had scrutinised allegations of financial irregularities against the firm through the Registrar of Companies, after which it directed the SFIO to probe the allegations.

According to the CBI, between April and June 2018, Yes Bank had invested ₹3,983 crore in short-term non-convertible debentures, or “Masala Bonds”, issued by DHFL. The bank subsequently also sanctioned a term loan of ₹750 crore to a DHFL group firm. In return, the then Yes Bank managing director and chief executive officer Rana Kapoor received a kickback of ₹600 crore from DHFL in the form of a loan to his family firm, Do It Urban Ventures (India) Private Limited