The helicopter was purchased by Varva Aviation, owned by an association of persons, in 2011 for Rs65 crore. RKW Developers, a company owned by the Wadhawan brothers, allegedly joined the association in 2017 by contributing towards the cost price and paying for maintenance of the helicopter. DHFL former promoters Kapil Wadhawan, his brother Dheeraj aka Baba Dewan and Avinash Bhosale had acquired ownership interest in the helicopter through their companies.
DHFL erstwhile promoters Kapil and Dheeraj have been accused of cheating a consortium of 17 banks of over Rs34,000 crore. The Wadhawan brothers are in jail and CBI is investigating Bhosale’s role in the case. Earlier CBI had arrested Bhosale in another cheating case pertaining to a Yes Bank-DHFL loan fraud.
Bhosale controlled ABIL Infraprojects allegedly has a stake in the helicopter through investment. CBI alleged that funds that DHFL had cheated from banks were used to acquire a stake in the company that owned the helicopter.
CBI seized the helicopter which was parked in a hangar at the premises of Avinash Bhosale at Baner Road, Pune. Recently, CBI had attached artworks and other valuables worth around Rs50 crore in the Yes Bank-DHFL case which the Wadhawan brothers had kept at the premises of their associates. CBI had filed a chargesheet against Bhosale in the Yes…
