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National News

Mar 09, 2020
8:39PM

CBI issues Look Out circular against the accused in Yes Bank Scam

PTI
The Central Bureau of Investigation today carried out searches at seven locations in Mumbai in connection with the Yes Bank scam pertaining to the 600 crore rupees alleged bribe to its co-founder Rana Kapoor's family by scam-hit DHFL and issued a look out circular against the accused to prevent their escape.

According to CBI officials the agency has named five companies and seven individuals including Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha as accused in its FIR.

Dewan Housing Finance Corporation Limited (DHFL) and RKW Developers Private Limited and their then directors Kapil Wadhawan 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.

The officials informed that 10 teams of the agency are involved in the search operation spread across south Mumbai neighbourhood, the agency issued Look Out Circular against all the seven accused --Kapoors and Wadhawans -- named in the FIR.

The Enforcement Directorate (ED), which arrested Kapoor, had already got LOC issued on the basis of which Roshini was stopped for leaving for London at the Chhatrapati Shivaji Maharaj International Airport, Mumbai yesterday.

The ED 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 up-market NCPA complex, Nariman point, besides Wadhawan's home at Sea View, Palace Hills. The offices of DHFL, DoIT Ventures and RKW developers were also searched by ED officials.

The agency has alleged that Rana  Kapoor, 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 agency also alleged that between April and June, 2018, Yes Bank invested 3,700 crore rupees in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL).

According to officials Yes Bank also sanctioned a loan of 750 crore rupees to RKW Developers Pvt Ltd whose director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project.

The officials said that the amount was transferred by RKW Developers to DHFL without investing anything in the project for which it was sanctioned.
 

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