The CBI has conducted raids at multiple premises of prominent builders, including Ashwini Bhonsale, Shahid Balwa and Vinod Goenka, in Mumbai and Pune in connection with the DHFL-Yes Bank loan fraud case, according to media reports.
The central agency suspects that the private companies run by these builders were involved in the case.
The raid continued till late Saturday night, and documents and digital evidence were collected, according to ToI report.
On April 28, the Central Bureau of Investigation (CBI) arrested realtor Sanjay Chhabria of Radius Developers in connection with the case.
Mumbai-based Radius Developers had borrowed approximately Rs 3,000 crore from Wadhawan’s DHFL for a housing project in the financial capital. Sources suspect that loan given to Radius Developers by DHFL could be part of “diversion of funds” which over a period was routed back to DHFL.
The Enforcement Directorate (ED) had also questioned Chhabria in the money laundering case. Arrest of Chhabria is based on the FIR filed by the CBI on March 7, 2020 which named former Yes Bank co-founder Rana Kapoor, his family, Kapil Wadhawan and Dheeraj Wadhawan as accused.
The CBI claims that former Yes Bank promoter Kapoor was involved in a criminal conspiracy with Kapil Wadhawan, promoter and director of the DHFL and others in 2018-2019 for extending undue financial assistance to DHFL by the bank.
The probe agency also claims that Yes Bank invested Rs 3,700 crore in the short–term debentures of the DHFL in 2018. Simultaneously, Wadhawan allegedly paid a kickback of Rs 600 crore to Rana Kapoor and his family members. As per reports, DHFL has not yet redeemed the Rs 3,700 crore bond investment by Yes Bank.
During money laundering probe, the Enforcement Directorate also recorded statement of Yes Bank top executives who said a loan of Rs 750 crore to Belief Relator was approved by Rana Kapoor despite objections.
