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CBI raids 7 locations in Mumbai; houses of Yes Bank founder Rana Kapoor, daughters’ searched
Some of the locations where CBI raids are underway in the financial capital are the DHFL office on Sir PM Road Fort, two offices of DOIT Urban Ventures India Pvt Limited, on Senapati Bapat Marg and Elphinstone Road.
The Central Bureau of Investigation (CBI) is carrying out raids at seven locations in Mumbai on Monday in connection with a case of fraud against Yes Bank founder Rana Kapoor.
A day before on Sunday, Kapoor was handed over to the Enforcement Directorate till March 11 by Mumbai’s Special Holiday Court.
Some of the locations where CBI raids are underway in the financial capital are the DHFL office on Sir PM Road Fort, two offices of DOIT Urban Ventures India Pvt Limited, on Senapati Bapat Marg and Elphinstone Road.
Also read: Yes Bank’s moratorium could end by Saturday, says administrator Prashant Kumar
The Worli residence of the founder of crisis-hit Yes Bank Rana Kapoor, the residence of Kapil Wadhawan in Bandra West, the residence of Rana Kapoor’s daughter Raakhi Kapoor Tandon at Nariman Point (NCPA complex), and the residence of Radha Kapoor Khanna at Nariman Point (NCPA complex) are also being raided simultaneously.
Making a request for five-day custody of Kapoor, the ED had made a “verbal submission” to the court mentioning the financial irregularities of Yes Bank and DHFL.
“The ED believes that Kapoor took advantage of his position to benefit his daughter’s companies, hence his custody is needed to investigate his and his daughters’ role in the matter,” said the lawyer representing ED.
Also watch: ED arrests Yes Bank founder Rana Kapoor under money laundering charges
The investigation agency also argued in court that many family companies are involved and there are also some cases of quid pro quo.
Responding to the allegations made by the investigative agency, Rana Kapoor told the court that “Despite undergoing medical treatment, I have been cooperating with the agency whenever needed.”
