ED gets production warrant against Wadhawan brothers

Mumbai, May 13

The Enforcement Directorate on Wednesday obtained a production warrant against DHFL promoters Dheeraj Wadhawan and Kapil Wadhawan to seek their custody in a money laundering case related to the Yes Bank scam.

The Wadhawans are presently in jail after being arrested by the CBI, which is also probing the case.

The ED applied for a warrant seeking that Wadhawan brothers be produced before a special court so that it can ask for their custody, the duo’s lawyer said.

The court allowed the application, he added.

Dheeraj Wadhawan and Kapil Wadhawan were arrested last month by the Central Bureau of Investigation (CBI) in the Yes Bank scam.

Founder of Yes Bank Rana Kapoor is also an accused in the case. He was arrested by the ED and is currently in judicial custody.

The central probe agency has alleged that 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 kickbacks of Rs 600 crore” to Rana Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, a firm controlled by his family, the ED said. PTI