Kapil Wadhawan and his brother Dheeraj have been sent to CBI custody till May 4 by a special court in Mumbai on Monday in connection with the Yes Bank case. The DHFL promoters were arrested yesterday from their Mahabaleshwar property by the CBI.
The Central Bureau of Investigation (CBI) had registered a case on March 7 against Yes Bank’s co-founder Rana Kapoor, the Wadhawan brothers, and others in an alleged money laundering case.
The CBI asked for the custody of the brothers on the grounds that both have refused to join the probe and cooperate with the investigations despite multiple summons. The court agreed to grant the custody of the brothers to the central probe agency.
“Both the accused, Kapil and Dheeraj Wadhawan, were absconding since the beginning of the investigation and evaded the summons. Accordingly, the CBI Court, Mumbai had issued a non-bailable warrant against them on March 17 on a petition filed by the CBI,” a CBI spokesperson said.
According to officials of the probe agency, the Wadhawans did not appear before CBI even after the non-bailable warrants were issued.
The Wadhawans filed an application before the court and got a stay on the execution of the warrant till May 5. However, the court vacated the stay order on April 25 after the CBI’s plea.
On April 9, the Satara district authorities detained the Wadhawan family, who are the promoters of DHLF, from their Mahabaleshwar property where they were holidaying despite the nationwide lockdown.
They reached the hill-town by flouting curfew orders aimed to curb the spread of coronavirus. They were then promptly sent to institutional-quarantine in accordance with the protocol.
On completion of the 14-day quarantine period, all 23 members including Kapil and Dheeraj Wadhawan, were released from the facility. The Wadhawan family was directed by government authorities to not leave the Satara district without permission from the Central Bureau of Investigation.
The CBI is probing Kapil and Dheeraj Wadhawan after it was alleged that DHFL received Rs 3,700 crore in investments from Yes Bank in lieu of kickbacks of Rs 600 crore paid to firms owned by the wife and daughters of Rana Kapoor. The Enforcement Directorate is also probing the case.