Yes Bank-DHFL Case: Mumbai Court sends Avinash Bhosale to CBI custody till June 8

A special court in Mumbai remanded ABIL group chairman Avinash Bhosale to Central Bureau of Investigation's (CBI) custody till June 8 in the DHFL- Yes Bank case.

Avinash Bhonsle is the founder of Avinash Bhosale Infrastructure Limited (ABIL) Group in Pune.

Avinash Bhosale, meanwhile, termed his CBI arrest illegal. 

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 CBI had arrested Bhosale on Thursday evening and on Friday he was produced in court for further remand.

The Central Bureau of Investigation, last month, raided 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.

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.

The realty company had borrowed from DHFL to finance a residential project in suburban Mumbai.

(ANI)