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Yes Bank rip-off: Wadhawan brothers search safety from arrest

The Wadhawan brothers mentioned they must be granted safety from arrest a minimum of through the lockdown interval contemplating the coronavirus outbreak. (Photo | Facebook)

DHFL promoters Kapil Wadhawan and his brother Dheeraj on Wednesday filed an anticipatory bail
software in a particular courtroom right here in reference to the case registered towards them for his or her alleged function within the YES financial institution rip-off. In their plea, the Wadhawan brothers mentioned that they must be granted safety from arrest a minimum of through the lockdown interval contemplating the coronavirus outbreak. “Our primary plea is that there is no need for arrest during this period of lockdown. Give us interim protection until then and all the merits can be discussed once the lockdown is lifted,” their lawyer mentioned.

The courtroom has requested the Enforcement Directorate (ED) to file its reply on Thursday and directed the company to not
take any coercive motion till then, the lawyer added. The Wadhawan brothers are accused within the YES Bank-DHFL
fraud circumstances. The DHFL (Dewan Housing Finance Limited) group has a mortgage quantity of about Rs 3,700 crore taken from Yes Bank that is beneath “stress”.

The ED is probing alleged quid professional quo between the 2 enterprise teams and their promoters. The Wadhawans have additionally been named within the FIR lodged by the CBI in reference to the YES Bank rip-off. They are additionally being probed by the ED in an one other legal case filed beneath the PMLA and is linked to late gangster Iqbal Mirchi.

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