Yes Bank-DHFL scam case: CBI arrests ABIL group chairman Avinash Bhosale
Premium- CBI has conducted multiple searches at his premises last month
The CBI on Thursday arrested Avinash Bhosale, promoter of ABIL group of companies, in connection to Yes Bank founder Rana Kapoor and Kapil Vadhawan of DHFL corruption case. CBI has conducted multiple searches at his premises last month (April).
The CBI suspects that illicit funds were routed through several real estate companies based in Maharashtra, they said.
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. Premises of ABIL and Bhosale were also searched during the operation.
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.
According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank invested ₹3,700 crore in short term debentures of scam-hit DHFL.
In return, Wadhawan allegedly "paid kickback of ₹600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said.