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

The Bombay High Court has granted bail to Pune-based builder Avinash Bhosale in a corruption case linked to Yes Bank and DHFL, currently under investigation by the CBI. Bhosale, arrested in May 2022 and currently in judicial custody for medical treatment, was granted bail by Justice N J Jamadar, who directed him to deposit a surety of Rs 1 lakh. The CBI alleges that Bhosale received kickbacks from Yes Bank co-founder Rana Kapoor in exchange for diverting funds. Yes Bank, under Kapoor, disbursed Rs 3,983 crore to DHFL, deemed proceeds of crime. DHFL then sanctioned loans totaling Rs 2,420 crore to three Radius group concerns, led by businessman Sanjay Chhabria.