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CBI recovers incriminating documents in raids

Loan Scams

CBI recovers incriminating documents in raids


The Central Bureau of Investigation (CBI) has recovered incriminating documents from the premises of three top realtors — Shahid Balwa, Avinash Bhonsle and Vinod Goenka — in Mumbai and Pune during raids in connection with Yes Bank-DHFL scam.


The federal probe agency had arrested Sanjay Chabaria of Radius Developers, three days back and raids were conducted following his interrogation.


Radius Developers had taken a loan of Rs 3,000 crore from Dewan Housing Finance Limited (DHFL) on the pretext of financing a project in Mumbai.


“Bhonsle, Goenka and Balwa allegedly used their firms to channel money of the loan. Hence their premises were also raided,” the source had said.


The source said that they have recovered a few incriminating documents, digital and documentary evidence in the raids conducted on Saturday.


A few persons were also quizzed by the CBI. The sources said that more arrests in the case is likely.


In March 2020, a case of loan fraud of Rs 3,600 crore was lodged by the CBI against Rana Kapoor, the promoter Director and CEO of Yes Bank for entering into a criminal conspiracy with Kapir Wadhawan, promoter Director of DHFL and others.


They extended financial assistance to DHFL by Yes Bank Limited in lieu of substantial undue benefit to himself and his family members through the companies held by them.


Between April and June 2018, Yes Bank Limited invested Rs 3,700 crore in the short term debentures of DHFL. Simultaneously, Wadhawan paid a kickback of Rs…

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