The Central Bureau of Investigation (CBI) on Thursday arrested ABIL group chairman Avinash Bhosale in connection with connection with a case of alleged corruption against Yes Bank founder Rana Kapoor and Dewan Housing Finance Corporation Ltd (DHFL).
Bhosle is a Pune-based businessman and top builder and is said to be close to top businessmen of Maharashtra.
As per PTI, the agency had carried out searches at the premises of noted builders of the state on April 30 to further probe on this aspect of the case, they said. Premises of ABIL and Bhosale were also searched during the operation.
It had recently arrested Sanjay Chhabria of Radius Developers in the case. The agency has alleged that Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said.
The CBI had registered the case in 2020 against Kapoor and Kapil Wadhawan of DHFL, among others, for alleged corruption.
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 DHFL.
In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and his family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said.
Kapoor's daughters -- Roshini, Radha and Rakhee -- are 100 per cent shareholders of DoIT Urban Ventures through Mogran Credits Pvt Ltd, it alleged.
The loan of Rs 600 crore was sanctioned by DHFL to DoIT Urban Ventures (India) Pvt Ltd on the basis of mortgage of sub-standard properties having very meagre value and by considering its future conversion from agricultural land to residential land, the agency has alleged.
It was further found that DHFL had not redeemed the amount of Rs 3,700 crore invested by Yes Bank in its debentures till date, it said.
(With PTI inputs)
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