The agency suspects that the entire amount has been received by Yes Bank to DHFL Laundering done by accused brothers Kapil And Dheeraj Wadhawan, with this Wadhawan Yes Bank promoter Rana Kapoor has been arrested in the said case.
The agency disclosed this while seeking custody of Avinash, a Pune-based builder and promoter of ABIL Group. bhosale, Builder Sanjay Chhabria radius group A case has been registered against whom DHFL had sanctioned a loan of Rs 2,317.
The agency’s investigation has reportedly revealed that funds were received by DHFL by Bhosale and his beneficially owned entities during the same period when funds were fraudulently received from Yes Bank against membership of NCDs in DHFL.
The ED told the court that the Wadhawan family conspired with the Chhabria and the loan sanctioned to his firm was not used for the purpose for which it was announced. “…the fund of Rs 2317 crore is nothing but the part of proceeds of crime (POC). 3983 crore received by DHFL from Yes Bank,” said the remand application reviewed by ET.
Out of this an amount of Rs. Rs 267 crore was diverted to Bhosale’s company Miss Nibodh Realty LLP. “It is pertinent to mention here that this diverted fund of Rs. 267 crores are part of Rs. 2317 crore received from DHFL to Chhabria,” the ED said.
“It is learned that DHFL had given these funds to Bhosale and his beneficially owned entities in the name of fees/consultancy fees etc. for rendering services related to loans given by them to various projects by DHFL. During the course of investigation, it has been observed that no such service has been provided by Bhosale or his entities. The payment made to them by DHFL is nothing but misappropriation of funds by DHFL,” it added.
Advocate Yash Agarwal, appearing for Bhosale, along with advocate Vijay Aggarwal, appearing for Wadia Gandhi & Co, opposed the arrest and remand by the ED.
Sending Bhosale to ED’s custody till July 5, the court accepted the application filed by advocate Agarwal and ordered that the interrogation be conducted as part of the interrogation. CCTV surveillance. The court also allowed that lawyer to be present during the interrogation at a visible but audible distance. The court allowed Bhosale to meet his lawyer for an hour every day to seek legal advice. Apart from allowing the food and medicine applications filed by Bhosale, the court has also ordered that an orthopedic bed be provided to Bhosale.