A special court here on May 8 extended till May 10 the CBI remand of Dewan Housing Finance Corporation Ltd (DHFL) promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan, arrested in connection with the Yes Bank scam .
The duo was arrested last month from a Mahabaleshwar-based quarantine facility, nearly 50 days after the CBI booked them in a case of alleged bribery also involving former Yes Bank CEO Rana Kapoor .
The Wadhawans were produced before the special court here on May 8 at the end of their previous remand.
The central probe agency sought an extension of their custody, saying they need to interrogate the duo further.
The Wadhawan brothers have been named accused in the CBI FIR pertaining to alleged swindling of money by Mr. Kapoor and others, officials said.
The agency has alleged that Mr. Kapoor, 62, entered into a criminal conspiracy with the Wadhawans 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.
According to the FIR filed by the CBI, the scam started taking shape between April and June 2018 when Yes Bank invested ₹3,700 crore in short-term debentures of the scam-hit DHFL.
In return, the Wadhawans allegedly “paid kickback of ₹600 crore” to Mr. Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt. Ltd. held by the wife and daughters of Mr. Kapoor.
Besides the CBI, the duo was also being probed separately by the Enforcement Directorate in connection with the Yes Bank scam.