The Central Bureau of Investigation conducted raids at seven locations in connection with the FIR lodged against Yes Bank Founder Rana Kapoor and others, officials said. Sources say, the raids were conducted at premises linked to Rana Kapoor, DHFL, RKW developers and DoIT Urban Ventures Pvt Ltd. DHFL Bandra office in Mumbai was also raided, according to ED officials.
CBI filed an FIR on March 7 against Rana Kapoor, DoIT Urban Ventures, a company linked to Rana Kapoor family, DHFL, promoter of DHFL Kapil Wadhawan and others under sections 120 (B) (Criminal Conspiracy), 420 (Cheating) of Indian Penal Code along with section 7, 12 & 13 of Prevention of Corruption Act. The Economic Offence Wing (1) of CBI has lodged the FIR in New Delhi.
According to CBI's FIR, "Rana Kapoor entered into criminal conspiracy with Kapil Wadhawan and others for extending financial assistance to DHFL by Yes Bank Limited in lieu of substantial undue benefits to himself and his family members through the companies held by them. During April to June, 2018, Yes Bank invested Rs 3,700 crore in short term debentures of DHFL. Simultaneously, Kapil Wadhawan paid Rs 600 crore to Rana Kapoor and his family members in the garb of loan of Rs 600 crore given by DHFL to DoIT Urban Ventures Pvt Limited (A Rana Kapoor Group Company)."
ED is also expected to record statements of suspects in the case. These locations were earlier raided by the ED.
The ED has taken cognisance of CBI's FIR and has lodged a money-laundering case against Yes Bank founder Rana Kapoor. Sources said that the CBI is also in touch with the Finance Ministry, the Reserve Bank of India (RBI) and other government agencies in connection with the case.
Rana Kapoor, who was arrested around 3 am on Sunday under the provision of the Prevention of Money Laundering Act (PMLA) has been sent to ED's custody till March 11.
The case against Rana Kapoor is linked to the scam-hit Dewan Housing Finance Corporation (DHFL) as the loans given by the Yes Bank to the company allegedly turned non-performing assets (NPAs), the officials had said. A loan worth Rs 600-crore extended by DHFL to an entity allegedly linked to Rana Kapoor's family member is also at the centre of the probe agencies.
According to the officials, the central agency is also probing the Yes Bank founder's role in connection with the disbursal of loans to some corporate entities and subsequently alleged kickbacks reportedly received by the firms associated to wife and daughters of Rana Kapoor.