Yes Bank case: CBI custody of DHFL promoters Kapil & Dhiraj Wadhawan extended till May 10

In a major development in Yes Bank case, a Special court in Mumbai on Friday, has extended CBI custody of  DHFL promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan till May 10. Previously, duo's CBI custody was extended till May 1 after a special court rejected ir bail plea in a money laundering case filed by Enforcement Directorate. On Wednesday, ED filed its first chargesheet in Yes Bank money laundering case against Yes Bank founder Rana Kapoor in a special court in Mumbai.

ED files chargesheet against Yes Bank founder Rana Kapoor in money laundering case

Wadhawans taken in CBI custody

On 26 April, after completing ir COVID-19 quarantine, DHFL promoters - Kapil and Dhiraj Wadhawan, were taken into custody by CBI with assistance of Satara police. A court had stayed n-bailable warrants (NBWs) issued against m in case registered by CBI, ruling that Wadhawan brors cant leave jurisdiction of Satara district until May 5 barring for a medical emergency in Mumbai. However, y were arrested on April 26 from Mahabaleshwar after court vacated its stay on execution of n-bailable warrants. 

Yes Bank case: DHFL promoters Kapil & Dheeraj Wadhawan taken into CBI custody

n-bailable warrant issued, lockdown flouted

On April 18, a Mumbai sessions court had issued a stay on n-bailable warrants (NBWs) issued against m in case registered by CBI, which was vacated by court on April 25. Kapil and Dheeraj Wadhawan recently broke lockdown to travel from Mumbai to Mahabaleshwar. brors who had recently skipped ED summons citing Coronavirus had travelled to Mahabaleshwar along with 20 family members after receiving a clean-chit from Special Principal Secretary of Maharashtra Home Minister. While state government has issued a probe into violation, all 23 Wadhawans underwent quarantine for 14 days, before being released.

Embattled Yes Bank's shares zoom 20% as it reports Rs 2,629 crore quarterly profit

What is Yes Bank crisis?

Yes Bank started facing a crisis as it accumulated many bad loans in 2018 by lending to corporate defaulters such as DHFL, Jet Airways, and Cafe Coffee day, among ors. Moreover, when RBI refused to extend term of founder Rana Kapoor as chief executive in 2018, its manment was severely hit with his successor Ravneet Gill managing to raise only one round of funds through a share sale to institutional investors. Currently, CBI and ED have been investigating several investors who had received loans from Rana Kapoor. Meanwhile, Yes Bank has been restructured by RBI with SBI as a major stakeholder at 48.21%.

Yes Bank case: CBI custody of DHFL promoters Kapil & Dheeraj Wadhawan extended till May 1