Yes Bank Scam: Court Extends Wadhawan Brothers’ Protection from Arrest

A special court here on Thursday extended till Monday the interim protection from arrest to DHFL promoter Kapil Wadhawan and his brother Dheeraj, in
connection with the YES Bank scam.

The duo had on Wednesday moved an anticipatory bail plea before the court in connection with the case registered against them for their alleged role in the YES Bank scam.

In their plea, the Wadhawan brothers said that they should be granted protection from arrest at least during the lockdown period considering the coronavirus outbreak.

The Enforcement Directorate (ED) on Thursday filed its reply objecting to the pre-arrest bail application of the Wadhawans. However, the court posted the matter for further hearing on Monday and directed the agency not to take any coercive action till then.

The DHFL (Dewan Housing Finance Limited) group has taken a loan of about Rs 3,700 crore from Yes Bank that is under “stress”. The ED is probing the alleged quid pro quo between the two business groups and their promoters.

Besides the ED, the Wadhawans have also been named in the FIR lodged by CBI in the YES Bank scam. They are also being probed by the ED in another
criminal case filed under the PMLA and is linked to late gangster Iqbal Mirchi.