Mumbai: A Rs 1,000 crore property in Australia, mortgaged by Dewan Housing Finance Corporation Limited (DHFL) to a Dubai firm, needs to be probed, the Enforcement Directorate (ED) told a special court, seeking further custody of the company’s promoters Kapil and Dheeraj Wadhawan.
The agency told the court that while the duo says that the mortgage was done due to losses, the agency needs to probe if that is indeed so.
The ED also told the court that DHFL infused Rs 1,000 crore into four companies, these companies, in turn, invested in companies in UAE and Australia, but the Wadhawans are not co-operating to reveal which those companies are. The matter needs investigation, it told the court, seeking an extension of custody by five days.
Further, the agency said that there are emails between a company official and Kapil Wadhawan which show that amounts were infused into companies in Singapore and Mauritius. These amounts, the agency believes are proceeds of a crime, need to be probed. It said it needs to confront them with the emails.
Appearing for the Wadhawans, their advocate Subodh Desai argued that the case is regarding Yes Bank, which has already been investigated by the CBI. The Wadhawans had been in sufficient custody of the CBI and all material is available with the latter and that custodial interrogation was not required.
The court extended their custody with the ED till May 27.
The Wadhawans are accused in the Yes Bank scam now pegged at over Rs. 5000 crores. The agency claims that the bank made investments of Rs. 3,700 crores in DHFL, in exchange for which the Wadhawans allegedly paid a kickback of Rs. 600 crores to the founder and ex-CEO of the bank Rana Kapoor through a company in which his daughters were directors.
