Yes Bank founder Rana Kapoor was produced before a Special Prevention of Money Laundering Act (PMLA) court today, at the end of this three-day custody. Kapoor's daughter Roshini Kapoor and wife Bindu Kapoor who have also been named in the FIR arrived at the Enforcement Directorate (ED) office earlier in the day.
The CBI had, on Monday, named Kapoor, his wife Bindu and three daughters Roshini, Radha and Rakhee, in the FIR in connection with the Yes Bank crisis. Dewan Housing Finance Corporation Limited (DHFL) was also named in the FIR along with five other companies including DoIT Urban Ventures Pvt Ltd, RAB Enterprises Pvt Ltd, Morgan Credits Pvt Ltd and RKW Developers Pvt Ltd.
The investigating agency stated that Yes Bank invested Rs 3,700 crore in short term debentures to DHFL. "Simultaneously, Kapil Wadhawan paid a kickback of Rs 600 crore to Rana Kapoor and his family members in the garb of builder loan of Rs 600 crore given by DHFL [in which Kapil Wadhawan is a promoter director] to DOIT Urban Ventures (lndia) Private limited, a wholly-owned subsidiary of RAB Enterprises (lndia) Private limited in which Bindu Kapoor, wife of Rana Kapoor is a director and 100 per cent shareholder," mentioned the FIR.
Roshini, Radha and Rakhee Kapoor are 100 per cent shareholders of DoIT Urban Ventures through Morgan Credits Pvt Ltd.
The CBI also said that along with the Rs 3,700 crore, Yes Bank sanctioned a loan of Rs 750 crore to RKW Developers, which is a DHFL group company for a project in Mumbai.
Rana Kapoor was placed under ED's custody on Sunday and was slated to remain in custody till March 11. His daughter Roshini Kapoor was also stopped by the ED from taking a flight to London on March 8 after her father was placed in ED custody. The ED had also issued lookout notices against Rana Kapoor and his wife and daughters. The agency also said that she was stopped from taking the flight as she was required to join the probe. The premises of Kapoor's daughters' residences in Delhi and Mumbai were also searched.
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