E-Paper
Yes Bank fraud case: Kapil, Dheeraj Wadhawan send to CBI custody till May 8
The federal agency, which had filed a first information report (FIR) against the Wadhawan brothers, had arrested the brothers on April 26 and the two have been in custody since then.
A Central Bureau of Investigation (CBI) court on Friday extended the custody of Kapil and Dheeraj Wadhawan, promoters of Diwan Housing Finance Corporation Limited (DHFL) arrested in connection with Yes Bank fraud case, till May 8.
The federal agency, which had filed a first information report (FIR) against the Wadhawan brothers, had arrested the brothers on April 26 and the two have been in custody since then.
CBI had alleged that Yes Bank had invested Rs 3700 crore in short-term debentures in DHFL, which has not been redeemed till date, for which the Wadhawans had paid a kickback of Rs 600 crore to Rana Kapoor, the former chief executive and managing director of the private lender, in form of a loan to DoIT Urban Ventures (India) Pvt Ltd.
It is a company registered in the name of Kapoor’s daughters.
CBI officials produced the Wadhawan brothers before the court and sought further custody for a period of seven days claiming that they needed to probe the role of other directors in DHFL and also of other Yes Bank officials.
The agency is looking at the role played by the other accused in the fraud and are investigating if any kickbacks were received by DHFL or Yes Bank employees. These employees will be asked to join the probe once the Covid-19 lockdown is lifted, said CBI sources.
The court after considering the seriousness of the case extended the CBI custody of the two brothers to facilitate the agency in further investigation.
