The Central Bureau of Investigation on Monday carried out raids at seven locations on Monday relating to allegations against Yes Bank co founder Rana Kapoor and scam hit Dewan Housing Finance Corporation Ltd.

"Raids are being carried out at seven places in Mumbai in connection with the accused," official sources said. A team of CBI officials are also in Mumbai to interrogate Kapoor who is in the custody of the Enforcement Directorate till March 11.

The CBI in its first information report has named 13 persons as accused including DHFL, Kapoor, how wife Bindu Kapoor and his three daughters as well as their firms Doit Urvan Ventures Pvt Ltd and Morgan Credits Pvt Ltd as well as DHFL promoter Kapil Wadhawan.

"A reliable Source Information has been received which revealed that during the year 2018-19 Rana Kapoor, the then Promoter-Director and CEO of Yes Bank Limited entered into a criminal conspiracy with sh. Kapir wadhawan, promoter Director of DHFL and others for extending financial assistance to  DHFL by Yes Bank Limited in lieu of substantial undue benefit to himself and his family members through the companies held by them," the FIR said.

"The aforementioned facts prima facie disclose the commission of cognizable offences u/s 120-8 rtw 420 of PC and section7,12 & 13(2) r/w 13(1xd) of PC Act 1988 against the aforementioned companies and individuals, it further said."

According to the CBI FIR, the scam started taking shape between April and June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL).

In return, Wadhawan allegedly “paid a kickback of Rs 600 crore” to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said.

Meanwhile, Kapoor’s daughter –Roshni Kapoor was also stopped from leaving the country for London on Sunday evening.

Related Topics
comment COMMENT NOW