The Bombay High Court on Monday requested the response of the CBI to a petition filed by the chairman of ABIL Group and the influential Pune-based construction company, Avinash Bhusal, who was arrested in connection with the Yes Bank-DHFL case.
He seeks Boussal’s plea for his release and the illegality of his imprisonment. The court will hear Bosal’s appeal on June 23.
A bench of Judge SS Shinde and Judge MN Jadhav was hearing the petition of Bhusal, who is currently in judicial custody and has been lodged in Arthur Road Jail. The Central Agency alleged that Bhosale had taken money from Yes Bank for business but diverted it for other purposes.
In April, the agency conducted searches at eight locations in Mumbai and Pune at the residences and offices of suspects in connection with the Yes Bank-DHFL case. Among the places searched were properties linked to Avinash Bhosale and ABIL malls.
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CBI arrested Yes Bank founder Rana Kapoor and DHFL promoters Kapil and Dheeraj Wadhawan in 2020, alleging that they had entered into a criminal conspiracy by which financial assistance was provided to DHFL in lieu of significant undue benefit to Kapoor and his family members.
In June last year, the Directorate of Enforcement (ED) confiscated assets worth over Rs 40 crore belonging to Bhosale and his family members as part of an ongoing investigation under the Foreign Exchange Management Act 1999 (FEMA). This property was seized as value equal to foreign securities and property held by Bhosale and family members in violation of FEMA.
Lawyer Vijay Agarwal argued that Bhosal’s arrest was “manifestly illegal” and in “blatant violation” of legal provisions and without jurisdiction. Agarwal said that his pretrial detention was discriminatory because the CBI filed an indictment sheet against many of the accused as most of them were not arrested by the Central Agency while Bhosale was arrested without any basis.
Additional Solicitor General Anil Singh, representing the CBI, sought time to respond to the petition. The court ordered CBI to file its response by June 22 and announced another hearing until June 23.