CBI raids on premises of Rana Kapoor, DHFL promoters Wadhawan brothers

MUMBAI: CBI raided seven places in connection of a cheating and corruption case it has registered against Yes Bank founder Rana Kapoor and promoters of Dewan Housing Finance Corporation Ltd (DHFL).
All the raided premises in Mumbai belonged to Kapoor family, DHFL promoters Kapil Wadhawan and his brother Dheeraj Wadhawan alias Baba Dewan.
It is alleged that Kapoor received Rs 600 crore bribe from Wadhawan through his daughters’ company DOIT Urban Ventures in lieu of Yes Bank extending loan and debenture investment collectively worth Rs 4,500 crore in DHFL.
On Saturday, CBI has registered a case of criminal conspiracy and under sections of prevention of corruption act against Rana Kapoor, DOIT Urban Ventures and Wadhawan brothers. Enforcement Directorate (ED) too registered a money laundering case against them and arrested Rana Kapoor on Sunday.
Kapoor’s daughters Roshini Kapoor, Radha Kapoor Khanna, Raakhee Kapoor Tandon are 100 % shareholders of DOIT Urban Ventures through Morgan Credits.
Rajendra Mirashie, president (project finance) of DHFL in his statement to ED said that he never interacted with Kapoor’s three daughters, for the loan and would coordinate with Lata Dave, senior executive secretory of Rana Kapoor at Yes Bank. Mirashie also told ED officials that at senior level Kapoor himself discussed the loan with Kapil Wadhawan.
Mirashie further added that Wadhawan or his assistant S Govindan used to give him instruction for transactions. Mirashie told ED that there was no activity or revenue of DOIT Urban Ventures and the Rs 600 crore loan was structured such that principal amount was to be paid in 2023 (after 60 months or five year) in single bullet payment and till now only the interest is being serviced.