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 till 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 circumstances filed by each Enforcement Directorate (ED) and CBI.

Both the brothers are at present in CBI custody in reference to the Yes Bank scam in which former Yes Bank CEO and co-founder Rana Kapoor can also be a co-accused.

The Wadhawan brothers, who have been arrested on April 26, have been remanded to CBI custody till 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, practically 50 days after they have been booked in the multi-crore scam additionally involving former Yes Bank CEO and co-founder Rana Kapoor.

Both the brothers are at present in CBI custody in reference to the Yes Bank scam in 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 felony conspiracy with the Wadhawans for extending monetary help to DHFL by Yes Bank in return for ‘substantial undue advantages’ to himself and his members of the family by corporations held by them. 

In return, the Wadhawans allegedly ‘paid kickback of Rs 600 crore’ to Kapoor and members of the family in 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 scam 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 circumstances – alleged irregularities in 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 Yes Bank. The ED will get the duo’s remand after their CBI custody ends.

Kapil and Dheeraj Wadhawan have been arrested by the CBI with the assistance of Satara district authorities from Mahabaleshwar, a well-liked hill station positioned greater than 300km from Mumbai.

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