scorecardresearch
Follow Us:
Sunday, May 22, 2022

DHFL-Yes Bank case: CBI searches premises of Mumbai realtors, Pune businessman

The CBI, sources said, is searching eight premises, including the residence and office of Shahid Balwa, Vinod Goenka and Avinash Bhosale.

By: Express News Service | Mumbai |
Updated: May 1, 2022 4:23:56 am
Bombay HC seeks CBI reply to DHFL promoter Wadhawan's plea against order to shift him to J J HospitalThe CBI has found that after Yes Bank under Kapoor invested Rs 2,700 crore in DHFL in June 2018, DHFL sanctioned a loan of Rs 1,100 crore and Rs 900 crore to two companies owned by Chhabria “without carrying out any due diligence”. (File)

The CBI is currently conducting searches on premises linked to Mumbai-based realtors Shahid Balwa and Vinod Goenka of D B Realty and Pune-based businessman Avinash Bhosale in connection with its case against DHFL and Yes Bank.

The CBI, sources said, is searching eight premises, including the residence and office of Balwa, Goenka and Bhosale.

Earlier, on April 28, the agency had arrested Sanjay Chhabria of Radius Group of developers for his alleged role in the default of loan repayment to DHFL. Radius Group owes Rs 3,000 crore to DHFL.

The former co-founder of Yes Bank, Rana Kapoor and the promoters of DHFL — Dheeraj Wadhawan and Kapil Wadhawan — are currently under arrest.

Best of Express Premium

FY22: As Covid curbs ease, outward remittances up 55% to all-time highPremium
‘In Mathura, Radha ki chunari bhi Salma silti hai’Premium
A Letter From Varanasi: ‘It’s our waqt… Ayodhya will happen in Kash...Premium
Evil under the sunPremium

The CBI has found that after Yes Bank under Kapoor invested Rs 2,700 crore in DHFL in June 2018, DHFL sanctioned a loan of Rs 1,100 crore and Rs 900 crore to two companies owned by Chhabria “without carrying out any due diligence”.

The agency, sources said, is now looking into the role of other realtors that have defaulted on payments to DHFL. According to the CBI, Kapoor had received kickbacks of Rs 650 crore in lieu of investments worth Rs 3,700 crore by the bank in DHFL.

DHFL had defaulted on repayment of Rs 91,000 crore to its lenders. In February 2021, DHFL was acquired by Piramal Capital and Housing Finance for Rs 37,250 crore through the bankruptcy resolution process.

For all the latest Mumbai News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement