New Delhi: The Central Bureau of Investigation (CBI) on Thursday Avinash Bhosale Infrastructure Limited (ABIL) Group chairman Avinash Avinash Bhosale in Yes Bank-Dewan Housing Finance Limited (DHFL) scam case, sources told news agency PTI. The development comes weeks after the investigating agency raided the premises of Bhosale and others in Mumbai in connection with the cheating case.
Bhosale will be produced before the court on Friday.
According to reports, CBI suspects that illicit funds were routed through several real estate companies based in Maharashtra. Massive raids were conducted at eight locations in Pune and Mumbai, a CBI official had informed earlier.
The premises belonged to Bhosale who is a promoter of ABIL group of companies and Shahid Balwa, who was named in the 2G scam and later acquitted. The raids come two days after the federal probe agency arrested Sanjay Chabaria of Radius Developers in same case.
The CBI has now arrested Bhosale in a 2020 case against Yes Bank founder Rana Kapoor and Kapil Vadhawan of DHFL among others for alleged corruption.
As per the federal probe agency, 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.
CBI statement states that the scam took place between April and June 2018, when Yes Bank invested a sum of Rs 3,700 crore in short term debentures of scam-hit DHFL. In return, the real estate financing group paid kickback of Rs 600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd.
The CBI has been probing Yes Bank's former co-founder Rana Kapoor and DHFL since March 2020.