Rosy Sequeira
MUMBAI: Bombay high court refused bail to developer Sanjay Chhabria of Radius Group who was arrested by ED in the Yes Bank and DHFL money laundering case, reports .
“This court is unable to record its satisfaction that there are reasonable grounds for believing that the applicant is not guilty of the offence alleged against him,” said Justice Manish Pitale on Wednesday, dismissing Chhabria’s plea.Chhabria was arrested on April 28, 2022.
According to the prosecution, in March 2020, CBI had registered an FIR under the IPC and Prevention of Corruption Act against Yes Bank founder Rana Kapoor, DHFL promoters Kapil and Dheeraj Wadhawan and others. They had allegedly hatched a conspiracy and Kapoor made Yes Bank invest Rs 3,700 crore in DHFL in lieu of Rs 600 crore kickback to him, his companies and his family members, the prosecution added.
“This court is unable to record its satisfaction that there are reasonable grounds for believing that the applicant is not guilty of the offence alleged against him,” said Justice Manish Pitale on Wednesday, dismissing Chhabria’s plea.Chhabria was arrested on April 28, 2022.
According to the prosecution, in March 2020, CBI had registered an FIR under the IPC and Prevention of Corruption Act against Yes Bank founder Rana Kapoor, DHFL promoters Kapil and Dheeraj Wadhawan and others. They had allegedly hatched a conspiracy and Kapoor made Yes Bank invest Rs 3,700 crore in DHFL in lieu of Rs 600 crore kickback to him, his companies and his family members, the prosecution added.