The Central Bureau of Investigation (CBI) has registered an FIR against Rana Kapoor, the co-founder of crisis -ridden Yes Bank along with Dewan Housing Finance Limited (DHFL) and DoIT Urban Ventures for alleged criminal conspiracy, cheating and corruption.
Kapoor is currently in the custody of the Enforcement Directorate (ED). He was taken in to custody by the ED under provisions of Prevention of Money Laundering Act (PMLA) around 3 am on Sunday (Mar 8). ED produced Rana Kapoor before a holiday court on Sunday and sought his remand.
CBI had booked him for allegedly receiving kickbacks of Rs 600 crore in the form of loans for DoIT Urban Ventures, a company held by his daughters Roshini Kapoor, Radha Kapoor and Rakhee Kapoor.
Yes Bank had an exposure of more than Rs 3,000 crore loans to the scam-hit DHFL, which is already under probe, they said.
DHFL has already been booked by the CBI for siphoning off over Rs 2,200 crore of PF funds of Uttar Pradesh power sector employees.
It is alleged that the bank did not make enough efforts to recover the funds and the funds received by DoIT Ventures are suspected to be kickbacks for the lenient attitude of the bank, the sources said.
Roshini Kapoor was also stopped by the ED from taking a flight to London as she was required to join the probe, stated officials. The premises of Kapoor's daughters' residences in Delhi and Mumbai were searched for more evidence.
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on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.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.
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