DHFL-Yes Bank Scam: CBI arrests Wadhawan brothers from Mahabaleshwar

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Pune, April 26, 2020: The Central Bureau of Investigation (CBI) has today arrested Kapil Wadhawan and  Dheeraj Wadhawan from Mahabaleswar, District Satara ( Maharshtra) with the cooperation of district authorities of Satara on the strength  of the Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai. Both the accused will be produced before the Special CBI Court at Mumbai.

CBI had registered a case (RC 219 2020 E0004, EO-I, CBI, New Delhi) on 07.03.2020 on the allegations of fraud against Yes Bank, in which Kapil Wadhawan, Dheeraj Wadhawan, Rana Kapoor (the then MD & CEO of Yes Bank) and others were accused.

Both the accused, Kapil and Dheeraj Wadhawan were absconding since beginning of the investigation and evaded joining investigation. Accordingly, the CBI Special Court, Mumbai had issued NBW against them on 17.03.2020 on a petition filed by CBI.

Even after the issuance of NBW, they have not appeared before CBI or the Court. On 09.04.2020, an information was received by CBI that both the accused were located in District Satara and lodged at a Government Institutional Quarantine Centre at Panchgani. Thereafter, an email was immediately sent to DM and SP of District Satara(Maharashtra) for not releasing them without NOC from CBI or order of the Court and taking other necessary steps to prevent the accused persons from absconding.

On the prayer of accused persons, the Court vide order dated 18.04.2020 had stayed the execution of NBW till 05.05.2020, which has been vacated by the Court on 25.04.2020 on the prayer of CBI. Investigation is continuing, CBI said.

According to the information, the 23 people of the Wadhawan family drove in five cars from Khandala to Mahabaleshwar during lockdown on April 8. Kapil and Dheeraj Wadhawan are accused in Yes Bank and DHFL fraud case. The surprising thing is that it was on the recommendation of the Principal Secretary of the Government of Maharashtra, Amitabh Gupta, that five cars of the Wadhawan family were approved to travel from Khandala to Mahabaleshwar. A letter has also been found in the case in which Amitabh Gupta has described Wadhawan as his “family friend”.

The ED had registered a case against Yes Bank co-founder Rana Kapoor, the Wadhawan brothers, RKW Developers, and Doit Urban Ventures Ltd, a company owned by daughters of Kapoor on March 7. RKW is another company controlled by DHFL promoters.

Kapoor, his family members, and others are accused of laundering Rs 4,300 crore by receiving alleged kickbacks in lieu of extending sizeable loans to big borrowers through the bank. The loans later turned non-performing assets (NPA).

After the incident had come to light, Maharashtra Home Minister Anil Deshmukh said that Home department Principal Secretary (Special) Amitabh Gupta was sent on compulsory leave with immediate effect, and further action will be taken against him. An FIR was registered against the 23 people of Wadhawan family in Mahabaleshwar and they were kept in a quarantine facility. Later they were moved to their farmhouse for home quarantine.

It was Gupta who gave a letter to the Wadhawan family to visit Mahabaleshwar from Khandala.

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