Yes Bank-DHFL fraud case: 2 businessmen raided by CBI in Mumbai, Pune
India Today
The CBI on Saturday conducted raids on several properties linked to two businessmen in Mumbai and Pune in connection with the Yes Bank-DHFL fraud case.
The Central Bureau of Investigation (CBI) on Saturday conducted raids at multiple locations in Mumbai and Pune on the premises linked to builder and businessman Shahid Balwa and Pune-based businessman Avinash Bhosle.
According to sources, the raids are in connection with the Yes Bank-DHFL case in which builder Sanjay Chhabria of Radius group was arrested by CBI on Thursday. In total, eight locations were raided by the CBI in Mumbai and Pune.
Sanjay Chhabria, who is the promoter of Radius Group, had borrowed huge loans from DHFL (Dewan Housing Finance Ltd) and Yes bank. The CBI conducted searches at six locations linked to Chhabria and Radius Group in Mumbai and Pune in February this year.
The CBI is investigating Yes Bank co-founder Rana Kapoor and DHFL and its promoters Kapil and Dhiraj Wadhawan for causing loss to Yes Bank. During the investigation, it was found that Rana Kapoor had allegedly received kickbacks of Rs 650 crore for an investment of Rs 3,700 crore made by the bank in housing finance company DHFL's debentures. Another 750 crore was given by Yes bank to a DHFL linked company named Belief Realtors.
Sources said that Radius Developers had borrowed around Rs 3,000 crore from DHFL.
The Enforcement Directorate (ED) had also questioned Chhabria in 2020 and had recorded his statement in the case against Kapoor and Wadhawans. Meanwhile, a Mumbai court on Friday sent Chhabria to CBI custody till May 6.
