The Central Bureau of Investigation (CBI) conducted raids at 7 locations on Monday in connection with the FIR lodged against Yes Bank Founder Rana Kapoor and others.
According to sources, the raids are being conducted at premises linked to Rana Kapoor, DHFL, RKW developers and Doit Urban Ventures Pvt. Ltd. DHFL Bandra office in Mumbai is also being raided according to ED officials.
CBI had filed FIR on March 7, 2020, against Rana Kapoor, the then CEO of Yes Bank, Doit Urban Ventures (Company linked to Rana Kapoor family), DHFL, Kapil Wadhawan (promoter of DHFL) and others under section 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.
The FIR lodged by CBI stated that Rana Kapoor entered into a 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. “From April to June 2018, Yes Bank invested Rs 3700 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 a loan of Rs 600 crore given by DHFL to DOIT Urban Ventures Pvt Limited (A Rana Kapoor Group Company),” the FIR further reads.
ED is also expected to record statements of suspects in
the case as these locations were earlier raided by the ED.
The ED has taken cognizance of CBI’s FIR and has lodged a money-laundering case against Yes Bank founder Rana Kapoor.