The CBI on Saturday seized an AgustaWestland helicopter from Avinash Bhosale, who is allegedly involved in the Yes Bank and Dewan Housing Finance Corporation Limited (DHFL) fraud that caused a loss of ₹34,000 crore for Union Bank of India-led consortium of 17 banks.
According to the central agency ABIL Infraprojects Limited, a company owned by Avinash Bhosale allegedly has a stake in the said helicopter and was parked in a hanger on Mr. Bhosale’s premises at Baner Road, Pune.
In its press release, CBI stated that RKW Developers Private Limited (a company owned by Wadhawan family promoters of DHFL) allegedly has stakes in Varva Aviation (an Association of Persons) that owns AW109SP Grand New Helicopter Agusta Westland Helicopter) purchased in 2011. RKW Developers Private Limited joined the Association of Persons in 2017 contributing towards cost price and maintenance of said helicopter.
It is alleged that the funds used for making payment towards the stake in Association of Persons were sourced from loan funds sanctioned by different banks.
On July 25, the CBI filed a supplementary chargesheet against Mr. Bhosale, who was arrested on March 26, for allegedly routing illicit funds through several real estate companies based in Maharashtra.
Between April and June of 2018, Yes Bank Limited had invested ₹3,700 crore in the short-term debentures of DHFL. Simultaneously, Mr. Wadhawan paid a kickback of ₹600 crore to Rana Kapoor (founder of Yes Bank) and his family members in the garb of builder loan given by DHFL. It has been learnt that DHFL has not redeemed the amount of ₹3,700 crore invested by Yes Bank in its debentures till date.
The chargesheet names Mr. Bhosale, Satyan Gopaldas Tandon, Metropolis Hotels, ABIL Infraprojects Private Limited, ABIL Hospitality Private Limited, Arindam Developers, Avinash Bhosale Group and Flora Developments Limited.
