New Delhi: The CBI (Central Bureau of Investigation) custody of Dewan Housing Finance Ltd (DHFL) promoters Kapil Wadhawan and Dheeraj Wadhawan was on Friday extended till May 1. The central probe agency sought an extension of their custody, saying they need to interrogate the duo further.
The businessmen-brothers are facing charges of financial irregularities in cases filed by both Enforcement Directorate (ED) and CBI.
Both the brothers are currently in CBI custody in connection with the Yes Bank scam in which former Yes Bank CEO and co-founder Rana Kapoor is also a co-accused.
The Wadhawan brothers, who were arrested on April 26, were remanded to CBI custody till April 29, which was later extended to May 1 and then May 8. The duo was arrested from Mahabaleshwar, a hill station more than 300km from Mumbai, nearly 50 days after they were booked in the multi-crore scam also involving former Yes Bank CEO and co-founder Rana Kapoor.
Both the brothers are currently in CBI custody in connection with the Yes Bank scam in which former Yes Bank CEO and co-founder Rana Kapoor is also a co-accused.
The agency has alleged that Yes Bank founder Rana Kapoor, 62, entered into a criminal conspiracy with the Wadhawans for extending financial assistance to DHFL through Yes Bank in return for ‘substantial undue benefits’ to himself and his family members through companies held by them.
In return, the Wadhawans allegedly ‘paid kickback of Rs 600 crore’ to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd held by the wife and daughters of Kapoor.
According to the CBI FIR, the scam started taking shape 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 cases – alleged irregularities in the investment of Employees Provident Fund (EPF) of the Uttar Pradesh Power Corporation Ltd (UPPCL) and the other relates to laundering of over Rs 4,000 crore through Yes Bank. The ED will get the duo’s remand after their CBI custody ends.
Kapil and Dheeraj Wadhawan were arrested by the CBI with the help of Satara district authorities from Mahabaleshwar, a popular hill station located more than 300km from Mumbai.
