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Massive CBI raids in Mumbai, Pune over Yes Bank-DHFL scam

The Central Bureau of Investigation (CBI) on Saturday conducted massive raids at eight premises in Mumbai and Pune in connection with the Yes Bank-DHFL scam.

Massive CBI raids in Mumbai, Pune over Yes Bank-DHFL scam

Yes Bank. (File Photo: IANS)

The Central Bureau of Investigation (CBI) on Saturday conducted massive raids at eight premises in Mumbai and Pune in connection with the Yes Bank-DHFL scam.

The premises belong to Avinash Bhosale, a promoter of ABIL group of companies, and Shahid Balwa, who was named in the 2G scam and later acquitted, sources said.

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The raids come two days after the federal probe agency arrested Sanjay Chabaria of Radius Developers in same case.

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In February, the CBI had searched six premises linked to Radius Developers, which was one of the biggest borrowers from the debt-ridden Dewan Housing Finance Limited (DHFL).

The CBI has been probing Yes Bank’s former co-founder Rana Kapoor and DHFL since March 2020.

Radius Developers owe over Rs 3,000 crore to DHFL. It had taken a loan to finance a project in Mumbai.

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