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Yes Bank Scam: CBI custody of Wadhawan brothers extended till May 10
The central probe agency had said it needs to interrogate the brothers further in connection with the Yes Bank scam also involving its founder Rana Kapoor.
Updated : May 08, 2020, 05:46 PM IST | Edited by : Ahamad Fuwad
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A special court in Mumbai on Friday extended till May 10 the CBI remand of Wadhawan brothers arrested in connection with the Yes Bank scam.
DHFL promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan were arrested last month from a Mahabaleshwar-based quarantine facility in a case of alleged bribery also involving former Yes Bank CEO Rana Kapoor.
As their remand ended on Friday, they were produced before the special court which granted CBI's request to extend their custody.
The central probe agency had said it needs to interrogate the duo further.
In its FIR in the Yes Bank case, the CBI has alleged that Kapoor entered into a criminal conspiracy with Kapil Wadhawan for extending the financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.
The scam, according to the CBI, started taking shape between April to June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit DHFL.
In return, Wadhawan allegedly "paid kickbacks of Rs 600 crore" to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd held by the wife and daughters of Kapoor.
The Enforcement Directorate is probing the money laundering angle into the case.
Last week, they were placed into custody after their 14-day quarantine ended on Wednesday.
Wadhawan brothers and 21 others, including their family members, were placed under institutional quarantine in Panchgani after they reached Mahabaleshwar hill town earlier this month amidst the lockdown.
