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 Avinash Bhosale Infrastructure Limited (ABIL) group of companies, and Shahid Balwa, who was named in the 2G scam and later acquitted. The raids come two days after the federal probe agency arrested Sanjay Chabaria of Radius Developers in same case. 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).
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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. Avinash Bhosale, Vinod Goenka and Shahid Balwa are close to ruling dispensation in Maharashtra.
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