Mumbai: The CBI on Monday carried out searches at seven locations here in connection with a corruption case registered against Yes Bank founder Rana Kapoor, Dewan Housing Finance Limited (DHFL) as well as its promoter Kapil Wadhawan.
Primarily, the exact locations searched by the Central Bureau of Investigation (CBI) teams were not known yet but agency sources confirmed that the places belonged to the accused named in the First Information Report (FIR).
The CBI move came after the Enforcement Directorate arrested Kapoor on Sunday morning after over 30 hours of questioning in connection with a probe into a money laundering case involving DHFL.
He was later sent in three-day ED custody by a Mumbai court.
The CBI had registered a case of corruption, criminal conspiracy and cheating against Kapoor, a former MD and CEO of Yes Bank, DHFL and Wadhawan, on Sunday.
The agency also named Doit Urban Ventures (India) Limited in its FIR registered under the Indian Penal Code and the Prevention of Corruption Act.
The FIR mentions that Kapoor extended financial assistance to DHFL to get "substantial undue benefits" for himself and his family members through companies held by them.
The case is being handled by the CBI's BS&FC unit -- a specialised unit which looks into bank fraud cases across the country.
The CBI has begun a probe into the short-term debentures of DHFL for which Yes Bank invested Rs 3,700 crore from April to June 2018. The probe is part of another investigation pertaining to Yes Bank's purchase of debentures from DHFL against which the company was granted loans totalling Rs 600 crore against a collateral security of around Rs 40 crore only.
The loan amount later turned into non-performing asset. It was alleged that DHFL's Wadhawan simultaneously paid kickbacks totalling Rs 600 crore to the Kapoors in the form of a loan of a similar amount to Doit Urban Ventures, a venture owned by his daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor.
It was also alleged that Yes Bank did not initiate action to recover the loans extended to DHFL.
Here are some tweets & Images:
At first, an ED raid underway at Samudra Mahal, the residence of Yes Bank founder Rana Kapoor.
Maharashtra: Enforcement Directorate (ED) raid is underway at #YesBank founder Rana Kapoor's residence, at 'Samudra Mahal' residential tower in Mumbai. ED has registered a case under Prevention of Money Laundering Act (PMLA) against Rana Kapoor. pic.twitter.com/3JghF9nhIE— ANI (@ANI) March 6, 2020
Then, the recent seven raids conducted by the Central Bureau of Investigation:
Maharashtra: Central Bureau of Investigation (CBI) raids are underway at 7 locations in Mumbai, in connection with a case against #YesBank founder Rana Kapoor. https://t.co/tGygFGIvcp pic.twitter.com/bgEUS29FND— ANI (@ANI) March 9, 2020
Mumbai ED team alongwith Rana Kapoor:
Image: IANS File image of Rana Kapoor alongwith family.
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