THE ENFORCEMENT Directorate on Thursday arrested DHFL promoters Kapil and Dheeraj Wadhawan in connection with their involvement in the Yes Bank alleged fraud case.
The Wadhawan, arrested by the CBI last week, are currently in Taloja jail as per the orders of a special CBI court. Their interim bail applications citing the outbreak of Covid-19 in jails were rejected earlier.
The ED sought the custody of the DHFL promoters stating that they wanted to probe their links in the alleged conspiracy with Yes Bank founder Rana Kapoor and others in the money laundering case. The special court granted ED the custody of Wadhawans till May 22.
Kapoor was arrested on March 8 by the ED, following which a probe revealed the involvement of the Wadhawans in the matter. The ED has claimed that the conspiracy was planned by Kapoor along with Kapil for extending financial assistance to
DHFL by the Yes Bank in lieu of undue benefit to Kapoor and his family members through the companies
held by them. “Between April and June 2018, Yes Bank Limited invested Rs 3,700 crore in short-term debentures of DHFL. Simultaneously, Kapil Wadhawan paid a kickback of Rs 600 crore to Rana Kapoor and his family members in the garb of a loan of Rs 600 crore given by DHFL to DOIT Urban Ventures (India) Pvt Ltd (A Rana Kapoor Group Company),” the ED
The ED claimed that their custodial interrogation was required to probe into the financial transactions. It also claimed that the two had not cooperated with the investigation earlier despite summons issued to them in March.
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