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Wadhawans to remain in CBI custody May 1ac

A special Central Bureau of Investigation (CBI) court on Wednesday extended the CBI custody of Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan up to May 1.

The brothers had been remanded in the agency’s custody till Wednesday after being arrested from their bungalow at Mahabaleshwar on April 26 for their alleged involvement in the Yes Bank fraud.

The CBI told the court on Wednesday that it needed to question the Wadhawan brothers on loans and debentures obtained from Yes Bank when its former CEO and managing director Rana Kapoor was at the helm. CBI officials said the Wadhawans had not cooperated during questioning and it needed more time to unravel the conspiracy.

Senior advocate Amit Desai, appearing for the Wadhawans, opposed the CBI’s plea and argued that the case is based on banking transactions and money trails, records of which are available to the agency. Hence, custodial interrogation is not needed, he said.

The court, after considering both arguments, gave the CBI two more days to question the Wadhawans.

Earlier, special judge A.S. Sayyad while granting the CBI custody had observed that Mr. Kapoor had entered into a criminal conspiracy with the brothers to extend financial assistance to their companies and allegedly obtained undue pecuniary advantage from DHFL.

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Printable version | Oct 1, 2020 6:07:22 AM | https://www.thehindu.com/news/national/other-states/wadhawans-to-remain-in-cbi-custody-may-1ac/article31467857.ece

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