Yes Bank Case: Kapil, Dheeraj Wadhawan sent to judicial custody till June 11

Mumbai's special Prevention of Money Laundering Act (PMLA) court on Wednesday sent Dewan Housing Finance Limited (DHFL) promoters Dheeraj Wadhawan and his bror Kapil to judicial custody till June 11. y were apprehended by  Enforcement Directorate (ED) on May 14 in connection to Yes Bank money laundering case. judicial custody was extended after ir 14-day judicial custody ended on Wednesday.

Bombay High Court had rejected ir anticipatory bail plea earlier. y were n sent to judicial custody after temporary bail was rejected by a special CBI court in Mumbai, on May 10 sought due to COVID-19 outbreak. That came after ED filed its first charge sheet in Yes Bank case against bank's founder Rana Kapoor in a special court in Mumbai.

READ | ED Arrests Kapil & Dheeraj Wadhawan In Yes Bank Money Laundering Case

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 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.

READ | Yes Bank Case: Bombay HC Rejects Pre-arrest Bail Of DHFL Honchos Kapil & Dheeraj Wadhawan

READ | Wadhawans In Mahabaleshwar Skipping Yes Bank Scam Summons; ED Seizes 5 High-end Vehicles