New Delhi: The CBI custody of DHFL promoter Kapil Wadhawan and his brother Dheeraj, accused in a corruption case against former Yes Bank CEO Rana Kapoor, was on Friday (May 1) extended till May 8.
The special court in Mumbai had earlier sent the Wadhawan brother-duo to CBI custody till May 1 for questioning in the case.
The Wadhawan brothers were arrested on April 26 from Mahabaleshwar, a hill station near Mumbai, nearly 50 days after they were booked in the multi-crore-rupee scam also involving Kapoor, former Yes Bank CEO and its co-founder.
The agency sought extension of their remand on the ground that the duo was not cooperating and custodial interrogation is key to finding out details of sister companies that might have been used for rolling of funds to benefit Yes Bank founder Rana Kapoor and his family members. Convinced by the CBI’s argument, the court granted the extension of custody.
According to the CBI, 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 fictitious companies held by them.
As per the agency, the scam took place between April and June 2018 when Yes Bank invested Rs 3,700 crore in short- term debentures of the tainted Dewan Housing Finance Corporation Ltd (DHFL).
In return, the Wadhawans allegedly paid kickbacks worth Rs 600 crore to Kapoor and his family members in form of loans to DoIT Urban Ventures (India) Pvt Ltd, a company owned by Kapoor’s wife and children, the CBI has said.
Apart from the CBI case, the Enforcement Directorate (ED) had also initiated a probe against Kapil Wadhawan on charges of money laundering after the scam came to light.
Kapil Wadhawan was arrested by the ED in January 2020 and later released on bail by a court.
