New Delhi: CBI arrested on Thursday Avinash BhosleChairman of Pune based real estate group ABIL GroupIn an alleged corruption case involving the founder of Yes Bank Rana Kapoor And Kapil Wadhawan of DHFL, officials said.
He said the CBI suspects that the illegal money was routed through several real estate companies based in Maharashtra.
He said the agency had searched the premises of well-known builders of the state on April 30 to investigate further on this aspect of the matter.
The premises of ABIL and Bhosale were also searched during the operation.
The CBI has now arrested Bhosale in a 2020 case on charges of alleged corruption against the Kapoors and the Wadhawans.
CBI had recently arrested Sanjay Chhabria In the case of Radius Developers.
The agency has alleged that Kapoor entered into a criminal conspiracy with the Wadhawans to extend financial assistance to DHFL through Yes Bank, in return for substantial undue benefits to him and his family members through companies held by him. found.
According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank invested Rs 3,700 crore in short-term debentures of scam-hit DHFL.
In return, the Wadhawans allegedly “paid Rs 600 crore” to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, they said.
DoIT Urban Ventures is owned by Kapoor’s daughters Roshni, Radha and Rakhi, who are 100% shareholders of the company through Mogran Credits Pvt Ltd.
The agency has alleged that a loan of Rs 600 crore was sanctioned by DHFL to DoIT Urban Ventures (India) Pvt Ltd on the basis of mortgage of substandard properties of very low value and considering future negotiations from agricultural land to residential land. went. ,
It was further observed that DHFL had not encashed the amount of Rs 3,700 crore invested by Yes Bank in its debentures till date.
In addition to the above, Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd, whose director is Dheeraj Wadhawan and a DHFL group company for their Bandra reclamation project, which was transferred to DHFL without any investment in the project. went. For which it was approved, he said.
The FIR alleged, “Rana Kapoor obtained undue pecuniary advantage from DHFL in respect of investment in debentures of DHFL by Yes Bank through companies held by his wife and daughters.”
He said the CBI suspects that the illegal money was routed through several real estate companies based in Maharashtra.
He said the agency had searched the premises of well-known builders of the state on April 30 to investigate further on this aspect of the matter.
The premises of ABIL and Bhosale were also searched during the operation.
The CBI has now arrested Bhosale in a 2020 case on charges of alleged corruption against the Kapoors and the Wadhawans.
CBI had recently arrested Sanjay Chhabria In the case of Radius Developers.
The agency has alleged that Kapoor entered into a criminal conspiracy with the Wadhawans to extend financial assistance to DHFL through Yes Bank, in return for substantial undue benefits to him and his family members through companies held by him. found.
According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank invested Rs 3,700 crore in short-term debentures of scam-hit DHFL.
In return, the Wadhawans allegedly “paid Rs 600 crore” to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, they said.
DoIT Urban Ventures is owned by Kapoor’s daughters Roshni, Radha and Rakhi, who are 100% shareholders of the company through Mogran Credits Pvt Ltd.
The agency has alleged that a loan of Rs 600 crore was sanctioned by DHFL to DoIT Urban Ventures (India) Pvt Ltd on the basis of mortgage of substandard properties of very low value and considering future negotiations from agricultural land to residential land. went. ,
It was further observed that DHFL had not encashed the amount of Rs 3,700 crore invested by Yes Bank in its debentures till date.
In addition to the above, Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd, whose director is Dheeraj Wadhawan and a DHFL group company for their Bandra reclamation project, which was transferred to DHFL without any investment in the project. went. For which it was approved, he said.
The FIR alleged, “Rana Kapoor obtained undue pecuniary advantage from DHFL in respect of investment in debentures of DHFL by Yes Bank through companies held by his wife and daughters.”