Yes Bank: Wadhawan brothers' CBI custody extended till May 1
Mumbai, Apr 29 () A special court here on Wednesdayextended till May 1 the CBI custody of businessmen-brothersKapil and Dheeraj Wadhawan of DHFL group in connection withthe Yes Bank scam.
Kapil and Dheeraj Wadhawan, promoter of Dewan HousingFinance Ltd (DHFL) and RKW Developers, respectively, werearrested on Sunday from a quarantine facility in Mahabaleshwarin Satara district, nearly 50 days after they booked in a caseof bribery against former Yes Bank CEO Rana Kapoor.
On Wednesday, they were produced before a specialcourt here as their earlier remand ended.
The CBI sought their further remand saying that theaccused were not co-operating in the investigation.
The agency said that it needs to probe them further tounearth the conspiracy and their links with Kapoor.
Defence lawyer Subodh Desai submitted that the natureof offence was such that their custody was not required.
However, the court extended their CBI custody till May1.
Wadhawan brothers are named as accused in the CBI FIRpertaining to swindling of money by Kapoor and others, theofficials said.
The agency has alleged that Kapoor, 62, entered into acriminal conspiracy with Kapil Wadhawan for extending thefinancial assistance to DHFL through Yes Bank in return forsubstantial undue benefits to himself and his family membersthrough companies held by them.
According to the CBI FIR, the scam started takingshape between April to June, 2018 when Yes Bank invested Rs3,700 crore in short-term debentures of the scam-hit DHFL.
In return, Wadhawan allegedly "paid kickback of Rs 600crore" to Kapoor and family members in the form of loans toDoIT Urban Ventures (India) Pvt Ltd held by the wife anddaughters of Kapoor.
Besides the CBI, the duo was also being probed by theEnforcement Directorate in connection with the Yes Bank scam. AVI ABS RDM Yes Bank: Wadhawan brothers' CBI custodyextended till May 1
(Eds: Adding details)
Mumbai, Apr 29 () A special court here on Wednesdayextended till May 1 the CBI custody of businessmen-brothersKapil and Dheeraj Wadhawan of DHFL group in connection withthe Yes Bank scam.
Kapil and Dheeraj Wadhawan, promoter of Dewan HousingFinance Ltd (DHFL) and RKW Developers, respectively, werearrested on Sunday from a quarantine facility in Mahabaleshwarin Satara district, nearly 50 days after they booked in a caseof bribery against former Yes Bank CEO Rana Kapoor.
On Wednesday, they were produced before a specialcourt here as their earlier remand ended.
The CBI sought their further remand saying that theaccused were not co-operating in the investigation.
The agency said that it needs to probe them further tounearth the conspiracy and their links with Kapoor.
Defence lawyer Subodh Desai submitted that the natureof offence was such that their custody was not required.
However, the court extended their CBI custody till May1.
Wadhawan brothers are named as accused in the CBI FIRpertaining to swindling of money by Kapoor and others, theofficials said.
The agency has alleged that Kapoor, 62, entered into acriminal conspiracy with Kapil Wadhawan for extending thefinancial assistance to DHFL through Yes Bank in return forsubstantial undue benefits to himself and his family membersthrough companies held by them.
According to the CBI FIR, the scam started takingshape between April to June, 2018 when Yes Bank invested Rs3,700 crore in short-term debentures of the scam-hit DHFL.
In return, Wadhawan allegedly "paid kickback of Rs 600crore" to Kapoor and family members in the form of loans toDoIT Urban Ventures (India) Pvt Ltd held by the wife anddaughters of Kapoor.
Besides the CBI, the duo was also being probed by theEnforcement Directorate in connection with the Yes Bank scam. AVI ABS RDMNP NP