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

Teams of CBI 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, DHFL promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by daughters of Kapoor, DoIT Urban Ventures (India) Pvt Ltd, they said.

The agency has alleged that between April and June 2018, Yes Bank invested Rs 3700 crore in short-term debentures of the Dewan Housing Finance Corporation Ltd (DHFL), they said.

Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose Director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project, they said.

The amount was transferred to by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, they said.

In return for these Yes Bank funds, Wadhawan allegedly invested Rs 600 crore in a company of Kapoor's daughters--DoIt Urban Ventures (India) Pvt Ltd which the CBI alleges to be a bribe to Kapoor for Yes Bank investments.

DHFL is alleged to have had siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies.

The Reserve Bank of India (RBI) on Thursday had imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.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.

On the other hand, shares of  Yes Bank on Monday zoomed over 30 per cent after State Bank of India (SBI) said it will pick up 49 per cent stake in the cash-strapped lender for Rs 2,450 crore.

The scrip witnessed a sharp rise, spiking 29.63 per cent to Rs 21 on the BSE.

On the NSE, it jumped 32.20 per cent to Rs 21.35.

SBI on Saturday announced it will pick up a 49 per cent stake in Yes Bank for Rs 2,450 crore and clarified that all the deposits and liabilities of the reconstructed bank will continue in the "same manner".

"Yes Bank has 255-crore shares of Rs 2 per share. SBI will be issued 245 crore shares at a price of Rs 10 per share for Rs 2,450 crore. This will be 49 per cent of the share capital of the reconstructed bank," the State Bank said in a statement.

SBI Chairman Rajnish Kumar had earlier said that it had set a maximum investment limit of Rs 10,000 crore for Yes Bank reconstruction process.

SBI shares were trading over 4 per cent lower at Rs 258.50 on the BSE.

Yes Bank has been struggling to raise capital amidst its dwindling financial health.

It sought to raise USD 2 billion initially during this fiscal, which was then pruned to USD 1.2 billion as it could not rope in any investor.