Two years after arrest, Pune builder Avinash Bhosale gets bail from HC in Yes Bank-DHFL scam

The Bombay High Court on Friday granted bail to Pune-based builder Avinash Bhosale in an alleged corruption case involving Yes Bank and DHFL, which is being probed by the Central Bureau of Investigation (CBI).

Bhosale, arrested in the case in May 2022, is currently in judicial custody, but admitted in a hospital for medical treatment. A single bench of Justice N J Jamadar granted bail to the real estate developer and directed him to deposit a surety of Rs 1 lakh.

The CBI's allegations is that Bhosale had received kickbacks from Yes Bank co-founder Rana Kapoor, also an accused in the case, in return for diverting funds.


Yes Bank under Kapoor had disbursed Rs 3,983 crore to Dewan Housing Finance Ltd (DHFL), which were proceeds of crime. Out of the said amount, DHFL had sanctioned and disbursed loans aggregating to Rs 2,420 crore to three group concerns of the Radius group, headed by businessman Sanjay Chhabria, also an accused in the case, said the central probe agency.

Bhosale allegedly received Rs 350-crore kickbacks from the Radius group for facilitating loans from DHFL in the form of consultancy services payments, according to the CBI probe.

The CBI had in 2020 arrested Kapoor and DHFL promoters Kapil and Dheeraj Wadhawan, claiming they had entered into a criminal conspiracy through which financial assistance was extended to their housing finance firm in lieu of substantial undue benefits to the Yes Bank co-founder and his family members.