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Yes Bank Fraud: Kapil and Dheeraj Wadhwan sent to CBI custody till May 4
The Wadhawan’s were arrested on Sunday afternoon from their bungalow at Mahabaleshwar in Satara for their alleged involvement in the Yes Bank fraud.
The Central Bureau of Investigation (CBI) produced Dheeraj and Kapil Wadhawan of Diwan Housing Finance Corporation Limited (DHFL) group before a special CBI court on Monday. Both the brothers were remanded to CBI custody till April 29.
The Wadhawan’s were arrested on Sunday afternoon from their bungalow at Mahabaleshwar in Satara for their alleged involvement in the Yes Bank fraud.
According to the CBI FIR, 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 duo, along with 23 other family members, was under home quarantine for 14 days since April 23, a senior official of the agency said.
The CBI had obtained an arrest warrant against the two brothers after the family was caught holidaying in Mahabaleshwar. On April 18, the brothers had obtained a stay on the execution of an arrest warrant after their lawyer pleaded that the two should not be arrested amidst the coronavirus pandemic. The special court had granted them relief and stayed the warrant. The court order protected the two from arrest till May 5.
However, the CBI, which was not heard while staying the warrant, approached the special court to lift the stay. Wadhwans’ interim relief was cancelled on Saturday (April 26) and a CBI team from Mumbai reached Satara on Saturday afternoon to arrest the two bothers, a senior officer of the agency said.
The agency was assisted by the Satara police. They were brought to Mumbai by Sunday evening. The CBI had obtained a non-bailable warrant against the two on March 17 but the two men had not been arrested. On April 9, the Wadhawans, with a group of 23 people, flouted the lockdown and travelled to Mahabaleshwar from Khandala after a senior home department official gave them a free pass. They were put in quarantine once the news of their lockdown violation became public.