CBI takes custody of DHFL promoters Kapil, Dheeraj Wadhawan

Mumbai: The Central Bureau of Investigation (CBI) has taken the promoters of Dewan Housing Finance Corporation, Kapil and Dheeraj Wadhawan in their custody in connection with the Yes Bank case. This, after the Maharashtra government recently sent them a written communique that their institutional quarantine was ending on April 22.
Earlier this month, the two brothers who are accused in the alleged fraud caused to Yes Bank allegedly fled from their rented premises in Khandala to their family bungalow in Mahabaleshwar along with other family members and support staff. On April 9, they were apprehended by the Satara police and sent to institutional quarantine since then. Separately the state police also booked them for curfew violations

“The two have been taken into custody earlier in the day and are being brought to Mumbai,” said an official requesting anonymity.

Maharashtra State Home Minister, Anil Deshmukh Sunday tweeted, “ A #CBI team has taken both Kapil and Dhiraj Wadhwan into custody. @SataraPolice has given them all required assistance & an escort vehicle with 1+3 guard upto Mumbai on a written request. The arrest procedures are going on”.

The CBI has registered two FIRs including the one concerning transactions between DHFL and arrested Yes Bank cofounder Rana Kapoor and the other pertaining to the purchase of a bungalow in Lutyens Delhi from Avantha Group of companies by the Kapoor family members. Based on these two predicate offences, the Enforcement Directorate (ED) registered two separate Enforcement Case Information Report (ECIR) to probe allegations of money laundering.

Meanwhile the agency suspects that the exposure of DHFL to Yes Bank could rise to around Rs 6,000 crores.”... between April to June 2018, Yes Bank invested Rs 3,700 crores in DHFL in the form of short term debentures. Simultaneously Kapil Wadhawan paid a kickback of Rs 600 crores to Rana Kapoor and his family member in the garb of builder loan by DHFL to Doit Urban Ventures Pvt (DUVPL), a wholly owned subsidiary of RAB Enterprises (India),” states the FIR reviewer by ET. “Bindu is a director and 100 percent shareholder and the daughters are 100 percent shareholders through Morgan Credit,” adds the FIR.