The special CBI court on Sunday remanded Kapil Wadhawan and Dheeraj Wadhawan to judicial custody till May 22. The court refused to grant them interim bail sought on the ground of spread of Covid-19 in jail.
The two brothers were produced before the special court on Sunday after their CBI custody ended. As the maximum period for custodial interrogation was exhausted by CBI, they were remanded to judicial custody.
Meanwhile, the defence lawyers for Wadhawan had moved the court for bail for the two on Friday. The CBI submitted their reply objecting the bail. On Sunday, the defence pleaded for interim bail considering the condition and spread of Covid-19 in the jail. The court rejected the plea for interim bail. While their plea for regular bail is now scheduled on May 13.
The Wadhawans have pleaded that the allegations against them are not true and their arrest was illegal. The defence has claimed that all dealings are bank transactions, which are well documented. Hence, there is no need to keep them in custody.
It further submitted that the segment in which Yes Bank invested, was oversubscribed by 2.37 times. There was no need therefore for any quid pro quo to Rana Kapoor, the defence has pleaded. Further, for the loan to Radha Kapoor, the brothers have claimed that there was enough security taken and all the process was followed by them and there were no irregularities.
{{/usCountry}}It further submitted that the segment in which Yes Bank invested, was oversubscribed by 2.37 times. There was no need therefore for any quid pro quo to Rana Kapoor, the defence has pleaded. Further, for the loan to Radha Kapoor, the brothers have claimed that there was enough security taken and all the process was followed by them and there were no irregularities.
{{/usCountry}}According to the CBI FIR, between April and June, 2018, Yes Bank invested ₹3,700 crore in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL), which is till date not redeemed. It is further alleged that Yes bank had sanctioned loan to RKW developers, where Dheeraj is a director and the whole amount was siphoned off by Kapil. CBI has alleged that in return, Wadhawan allegedly “paid a kickback of ₹600 crore” to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd.
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