The Enforcement Directorate (ED) will soon approach a special court in Mumbai for the custody of Kapil and Dheeraj Wadhawan in connection with the money laundering probe in the Yes Bank case. They are currently in the Central Bureau of Investigation’s (CBI) custody till May 8.
The CBI had arrested the Wadhawans on April 26 on the strength of non-bailable warrants issued against them in the case registered in March.
They were earlier kept in quarantine after being traced to Satara in Maharashtra on April 9.
As alleged, the two had not appeared before the CBI despite notices. They also did not present themselves before the court after the warrants were issued on March 17.
Following information that they had been located in Satara and kept at a government quarantine centre in Panchgani, The CBI wrote to the area District Magistrate and the Superintendent of Police asking them not to release the two without a court order. At the end of the 14-day quarantine period, the CBI arrested the Wadhawans and produced them before the court, which granted it their custody for interrogation.
In the money laundering case, the ED has identified over a dozen properties in Delhi and Mumbai, besides some assets in the United Kingdom, United States and France. The ED probe is based on the CBI case, in which the Wadhawans, former Yes Bank promoter-director Rana Kapoor and others have been named. The FIR relates to ₹3,700 crore in loans extended to DHFL allegedly in lieu of the investment of about ₹600 crore in a company linked to Mr. Kapoor’s family members.
The accused persons in the case had invested about ₹6,000 crore through 78 companies and entities, most of which were in the name of Mr. Kapoor’s wife and daughters, it is alleged.
In the FIR, Mr. Kapil Wadhawan has been mentioned as promoter-director of DHFL and Mr. Dheeraj Wadhawan as director of RKW Developers Private Limited.