Hours after the Enforcement Director arrested Yes Bank's founder Rana Kapoor, the CBI on Sunday registered a case against the former MD and CEO of the firm, Dewan Housing Finance Limited (DHFL) as well as its promoter Kapil Wadhawan on charges of corruption.
The agency also named Doit Urban Ventures (India) Limited in its FIR that includes various Indian Penal Code sections and charges under Prevention and Corruption Act.
The FIR mentions that Rana Kapoor extended financial assistance to DHFL to get "substantial undue benefit" for himself and his family members through companies held by them. The case is being handled by CBI's BS&FC unit -- a specialised unit which looks into bank fraud cases across the country.
The CBI has begun a probe into the short-term debentures of DHFL for which Yes Bank invested Rs 3,700 crore during April to June 2018. The probe is part of another investigation that Yes Bank had bought the debentures from DHFL against which the company was granted loans worth Rs 600 crore against a collateral security of around Rs 40 crore.
The loan amount later turned into non-performing assets, and it is alleged that DHFL's Wadhawan simultaneously paid kickbacks worth Rs 600 crore to the Kapoors in the form of a loan of a similar amount to Doit Urban Ventures, a venture owned by his daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor.
It has been alleged that Yes Bank allegedly did not initiate action to recover the NPA-turned loans from DHFL.
Rana Kapoor was on Sunday morning arrested by the ED after over 30 hours of questioning in connection with a probe into a money laundering case involving DHFL. He was later sent to three-days ED custody by a Mumbai court.