Pune-based businessman Avinash Bhosale, who was arrested in the Yes Bank-DHFL fraud case, has been remanded in police custody for 10 days. The court has rejected Bhosale's claim that the action taken by the CBI was illegal. The court also barred the CBI from taking Avinash Bhosale out of Mumbai.
Avinash Bhosale was arrested by the CBI on May 26 from Pune. He was later produced before a CBI court in Mumbai on May 27. The CBI had sought Bhosale's remand for 10 days. However, Bhosale's lawyers had opposed the remand, claiming that the CBI's action was illegal. The court has rejected the claim.
Avinash Bhosale is a famous businessman from Pune. He is also known as the real estate king. Avinash Bhosale is the father-in-law of Minister of State Vishwajeet Kadam. He owns a multi-crore ABIL group. While the action taken against Shiv Sena MLA Pratap Saranaik related to the construction sector is still fresh, the ED has also taken action against Bhosale.