CBI chargesheets Yes Bank founder Rana Kapoor, daughter and DHFL promoters for fraud
Earlier in the first week of March, a case was registered against Rana Kapoor and the Wadhawans in the Yes Bank fraud case. Wadhawan was arrested during the lockdown after he managed to reach his farmhouse outside Mumbai.
The Central Bureau of Investigation (CBI), on Thursday, filed a chargesheet in the case against Yes Bank founder Rana Kapoor and the promoters of Dewan Housing Finance Ltd (DHFL) Kapil and Dheeraj Wadhawan. The former Yes Bank chief’s daughter Roshni Kapoor has also been named in the chargesheet.
Earlier in the first week of March, a case was registered against Rana Kapoor and the Wadhawans in connection with the Yes Bank fraud. Wadhawan was arrested during the lockdown after he managed to reach his farmhouse outside Mumbai. The case was in connection with suspicious loans sanctioned by Yes Bank and alleged quid pro quo kickbacks received by Kapoor and his family from DHFL’s Wadhawans.
The chargesheet also mentions DOiT Urban Ventures Ltd (DUVPL), owned by Kapoor’s daughters, while DHFL has been named as an accused in the Yes Bank scam.
It has been alleged that between April and June, 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL. “Simultaneously, Kapil Wadhawan paid a kickback of Rs 600 crore to Rana Kapoor and his family members in the garb of a builder loan of Rs 600 crore given by DHFL to M/s DOIT Urban Ventures, a wholly owned subsidiary of RAB Enterprises in which Bindu Kapoor is a director and 100% shareholder. Furthermore, the daughters of Rana Kapoor are 100% shareholders of DOIT through Morgon Credits,” states CBI’s FIR in the case.
CBI further alleged that DHFL gave Rs 600 crore to DOIT on the basis of a mortgage of a sub-standard property having very meager value and by considering the future conversion from agricultural land to the residential land. DHFL had not repaid the bank’s Rs 3,700 crore till date, it adds.
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 amount was transferred by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, the CBI FIR further states.