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YES Bank scam: CBI carries out searches at 7 locations on bribery charges

Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai

Press Trust of India  |  New Delhi 

YES Bank
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 DHFL

The carried out searches at seven locations on Monday in connection with the scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL, officials said.

Teams of officers are carrying out operations at the residence and official premises of the accused in Mumbai, they said.

The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, promoter, for extending financial assistance to through in return for substantial undue benefits to himself and his family members through companies held by them, they said.

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

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

First Published: Mon, March 09 2020. 11:44 IST
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