Yes Bank scam: Court rejects bail pleas of Wadhawan brothers

A special CBI court here on Friday rejected the bail pleas of DHFL promoter Kapil Wadhawan and his brother Dheeraj, accused in the Yes Bank scam.

Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Ltd (DHFL) and RKW Developers respectively, were arrested in April by the CBI in connection with the scam.

Yes Bank founder Rana Kapoor is also an accused in the case.

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 the scam-hit DHFL.

In return, the Wadhawans allegedly "paid kickback of Rs 600 crore" to Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd held by the latter's wife and daughters, the CBI has claimed.

Apart from the CBI, the duo is also being probed by separately by the Enforcement Directorate in connection with the case. 

Image Credits: PTI