New Delhi, April 30: The Central Bureau of Investigation is conducting raids on the premises of builders Avinash Bhosale, Vinod Goenka, and Shahid Balwa in Pune and Mumbai on Saturday in connection with a cheating case related to the Yes Bank and Dewan Housing Finance Limited (DHFL) scam case.
Avinash Bhonsle is the founder of Avinash Bhosale Infrastructure Limited (ABIL) Group in Pune. Vinod Goenka is the Chairman and Managing Director of DB Realty Ltd, and Shahid Balwa is the Vice-chairman of the same group with its head office in Mumbai. Yes Bank PMLA Case: ED Attaches Over Rs 2,200 Crore Assets of Rana Kapoor and Others.
A senior CBI official informed that the raids are being conducted at eight locations in Pune and Mumbai. Earlier on Thursday, the CBI arrested Managing Director of Radius Developers Sanjay Chhabariya in a cheating case. In February this year, the CBI conducted searches at the premises of Radius Developers in Mumbai and Pune.
In the investigation, the CBI found that a substantial part of the Rs 3,000 crore that DHFL received from the Rana Kapoor-led Yes Bank as an investment a few years ago, was diverted to the Radius group. The realty company had borrowed from DHFL to finance a residential project in suburban Mumbai.
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