CBI issues look out circular against Yes Bank founder Rana Kapoor, family; conducts searches at 7 locations in Mumbai
New Delhi, March 9
The Central Bureau of Investigation issued Look Out Circulars against seven suspects in the Yes Bank scam, officials said on Monday.
The agency has booked Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha, besides DHFL promoter Kapil Wadhawan and Dheeraj Wadhawan, promoter of RKW Developers, they said.
The lookout circular (LOC) was issued against all these seven accused to prevent any attempts to leave the country, the officials said.
The Enforcement Directorate had already issued an LOC on the basis of which Kapoor’s daughter Roshini was stopped at the CSM International Airport, Mumbai, from leaving for London, they said.
The development comes after CBI’s searches at seven locations in connection with Rs 600 crore alleged bribe case.
Kapil Wadhawan, promoter of Dewan Housing Finance Corporation Limited (DHFL) and Dheeraj Rajesh Kumar Wadhawan, Director of RKW Developers Private Limited, a company linked to DHFL have also been named as accused, the officials said.
Companies DHFL, RKW Developers Private Limited, 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.
Teams of Central Bureau of Investigation (CBI) officers are carrying out operations at the residence and official premises of the accused in Mumbai, 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 Dewan Housing Finance Corporation Ltd (DHFL), they said.
Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose Director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project, the officials said.
The amount was transferred to by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, they 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 had siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies.
The Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
As per the RBI’s draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. PTI
