Bombay High Court Dewan Housing Finance Corporation Limited (DHFL) to CBI The proceedings against him were closed on Wednesday by acquitting him in the fraud and corruption case registered against his former directors Kapil and Dheeraj Wadhawan and Yes Bank founder Rana Kapoor. A single bench of Justice SK Shinde allowed DHFL’s plea challenging a special CBI court’s August order this year. His request to discharge him was rejected by the CBI court.
The company, in its petition filed in the high court through senior advocate Ravi Kadam, had argued that since it was acquired by Piramal Capital and Housing Finance, it should be relieved of all past liabilities. Earlier, CBI’s lawyer Hiten Venegaonkar had strongly opposed the company’s plea in the court.
ED arrested former promoters in money laundering case
Let us inform that in May last year, the Enforcement Directorate (ED) Kapil and Dheeraj Wadhawan arrested did. The arrest came in connection with a money laundering probe against the Yes Bank founder and others. Is. The CBI had also registered a case in the same case.
Let us tell you that there was a possibility that a major part of the Rs 34,000 crore bad loans of Yes Bank is likely to be linked to 44 companies of 10 big business groups. This includes Anil Ambani’s Reliance Group, Essel Group, ILFS, DHFL, Cox & Kings and Bharti Infra. The ED has accused Yes Bank promoter Ran Kapoor and his family of laundering money from crime proceeds of Rs 4,300 crore.
This amount was allegedly given to them as a bribe for providing huge loans to these companies through the bank. The loan given later became a Non-Performing Amount (NPA). Due to which Yes Bank got into trouble.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)