CBI raids 7 Mumbai sites
New Delhi, March 9
The CBI carried out searches at seven locations in Mumbai on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to its co-founder Rana Kapoor and his family by the scam-hit DHFL and issued a lookout circular against the accused to prevent their escape, officials said.
5 cos named accused
DHFL and RKW Developers Private Limited and their then directors Kapil and Dheeraj Wadhawan, DoIT Urban Ventures, RAB Enterprises (lndia) Pvt Ltd & Morgan Credits Pvt Ltd
The CBI has named five companies and seven individuals, including Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha, as accused in its FIR.
DHFL and RKW Developers Private Limited and their then directors Kapil and Dheeraj Wadhawan also figure as accused in the FIR.
DoIT Urban Ventures controlled by the Kapoor family, RAB Enterprises (lndia) Private Limited in which Bindu Rana Kapoor was director and Morgan Credits Private Ltd in which Rana Kapoor’s daughters were directors are also named as accused.
While 10 teams of the agency were involved in the search operation spread across the swanky south Mumbai neighbourhood, the agency issued lookout circular (LOC) against all seven accused — Kapoors and Wadhawans — named in the FIR.
A lookout circular alerts immigration staff at all the ports to prevent the accused from moving out of the country. The Enforcement Directorate (ED), which arrested Kapoor, had already got LOC issued on the basis of which Roshini was stopped from leaving for London at the Mumbai airport.
The searches took place at the lavish apartment of Kapoor in the famous Samudra Mahal building in Worli, besides residences of his daughters Raakhe and Radha in the upmarket NCPA complex, Nariman Point, besides Wadhawan’s house at Sea View, Palace Hills, the officials said.
The offices of DHFL, DoIT Ventures and RKW developers were also searched, they said. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Rana Kapoor’s daughters, DoIT Urban Ventures (India) Pvt Ltd, the officials said.
The agency has alleged that between April and June, 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL, they said.
Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd for their Bandra reclamation project, the officials said.
In return for these Yes Bank funds, Wadhawan allegedly invested Rs 600 crore in a company of Kapoor’s daughters — DoIT Urban Ventures (India) Pvt Ltd, which the CBI alleges to be a bribe to Kapoor for Yes Bank investments.
DHFL is alleged to have siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies. — PTI
