Enforcement Directorate arrested DHFL promoters Kapil and Dheeraj Wadhawan

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On Thursday, The Enforcement Directorate arrested DHFL promoters Kapil and Dheeraj Wadhawan. The arrest was in connection with their involvement in the alleged Yes Bank fraud.The special court  has granted ED the custody of Wadhawan brothers till May 22.

The ED sought the custody of the Wadhwan brothers stating that they wanted to probe their links in the alleged conspiracy with
Rana Kapoor and others involved in the money laundering case of the popular Yes Bank.

They were arrested by the CBI last week. Currently, DHFL they are in Taloja jail as per the orders of a special CBI court with their bail applications citing the outbreak in jails being rejected.

DHFL

The promoter of Yes Bank, Rana Kapoor was arrested on March 8 by the ED. A probe, in the same, revealed that the Wadhawans were also involved in the matter. The directorate has alleged that the scan was planned together by Kapoor and Kapil. The basis was to extend financial assistance to the company under the Wadhwans by the Yes Bank. In the deal, Rana was to recieve  undue benefits through the companies heldby them.“

Between April and June 2018, Yes Bank Limited invested Rs 3,700 crore in short-term debentures of DHFL. Simultaneously, Kapil Wadhawan paid a kickback of Rs 600 crore to Rana Kapoor and his family members in the garb of a loan of Rs 600 crore given by DHFL to DOIT Urban Ventures (India) Pvt Ltd (A Rana Kapoor Group Company),” the ED

had said.

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