Diwan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan were produced before a special Central Bureau of Investigation (CBI) court on Monday noon and were remanded to the custody of the central agency till April 29.
The CBI arrested the Wadhawans from their bungalow at Mahabaleshwar in Satara on April 26 for their alleged involvement in the Yes Bank scam.
Watch | Yes Bank crisis explained
In its First Information Report (FIR), the investigating agency had claimed that Yes Bank had invested ₹3,700 crore in short-term debentures of the DHFL between April and June 2018 for which the Wadhawans allegedly gave a kickback of ₹600 crore to former CEO and managing director Rana Kapoor in the form of loan to DoIT Urban Ventures (India) Pvt. Ltd., a company registered in the name of Mr. Kapoor’s daughters.
The CBI had obtained a non-bailable warrant against the two on March 17 but they had not been arrested. On April 9, the Wadhawans, who were out on bail along with a group of 23 people, flouted lockdown rules and travelled to Mahabaleshwar from Khandala after a senior IPS officer in the home department official issued a letter allowing them to travel.
Following an uproar, the Wadhawan brothers on April 18 obtained interim relief from arrest after their lawyer pleaded that the two should not be arrested in the middle of the pandemic.
The special court granted protection from arrest till May 5. But while granting the relief, CBI was not heard. On April 25, CBI approached the court for cancellation of the relief granted to the Wadhawan’ which was granted by the court following which the two brothers were arrested.
