Yes Bank-DHFL Fraud Case: CBI Initiates Searches In Residence, Offices Of Suspects Across Mumbai, Pune

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Highlights:

  • The CBI has searched the premises of Ashwini Bhonsale, Shahid Balwa, and Vinod Goenka
  • The scam began to take shape between April and June 2018
  • The agency has looked into a 2020 corruption case against Yes Bank founder Rana Kapoor, Kapil Wadhawan of DHFL

On Saturday, the CBI carried out searches at eight locations in Mumbai and Pune at residences and offices of the suspects in the Yes Bank-DHFL fraud case. The investigation agency has reportedly searched the premises of Ashwini Bhonsale, Shahid Balwa, and Vinod Goenka.

As per recent developments, the CBI arrested builder Sanjay Chabria. The CBI suspects that their companies were used to channel alleged illicit money in the Yes Bank – DHFL loan cases. In addition, the agency has looked into a 2020 corruption case against Yes Bank founder Rana Kapoor, Kapil Wadhawan of DHFL and others.

An official said, “The searches are going on at eight locations in Mumbai and Pune. Nothing can be said now about the role of people being searched.” As per the CBI FIR, the scam began to take shape between April and June 2018 when Yes Bank invested Rs 3,700 crore in short term debenture of DHFL.

Reportedly, DHFL had not redeemed the amount of Rs 3700 crore invested by the Yes Bank in its debenture to date. The agency alleged that Rana Kapoor entered into a criminal conspiracy with Wadhawan for extending financial aid to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.

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