DHFL scam: Yes Bank scam: CBI brings arrested ABIL group chairman Avinash Bhosale to Delhi for questioning

The CBI has brought ABIL group chairman Avinash Bhosalewho was arrested in Mumbai in connection with an alleged corruption case involving founder Rana Kapoor and Kapil Vadhawan of DHFL, to Delhi for questioning, officials said on Wednesday. Bhosale, who was being investigated in Mumbai, was brought to the national capital Tuesday night, they said.

The agency is probing if the Yes Bank and DHFL scam had spread its tentacles across noted builders of Maharashtra and their companies were allegedly used to route the proceeds of crimes in the form of loans, among others, officials said.

The agency had carried out searches at the premises of noted builders of the state on April 30 to further probe this aspect of the case, they said.

The CBI arrested Bhosale in a 2020 case against Kapoor and Wadhawan, among others for alleged corruption.

The agency recently arrested Sanjay Chhabria of Radius Developers in the case.

It has alleged that Kapoor entered into a criminal conspiracy with Wadhawan 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, they said.

According to the CBI FIR, the scam started taking shape between April to June, 2018 when Yes Bank invested Rs 3,700 crore in short term debentures of scam-hit DHFL.

In return, Wadhawan allegedly “paid kickback of Rs 600 crore” to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said.

DoIT Urban Ventures is held by daughters of Kapoor — Roshini, Radha and Rakhee — which are 100 per cent share holders of the company through Mogran Credits Pvt Ltd, it alleged.

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