After the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI) has also started a probe against the Yes Bank founder Rana Kapoor in connection with a case pertaining to the alleged financial irregularities involving Yes Bank and reality company Dewan Housing Finance Limited (DHFL).
Earlier in the day, the Central Bureau of Investigation (CBI) also conducted raids at seven locations in Mumbai.
The Economic Offence Wing (EOW) of the CBI filed an FIR on March 7 against Rana Kapoor, under the Prevention of Corruption Act.
"During the course of investigation by the Directorate against Deewan Housing Finance Limited (DHFL) and others, it was found that Yes Bank had subscribed to debentures issued by DHFL worth Rs 3700 crores during the period from April to June in 2018," revealed the remand copy which was accessed by ANI.
The Enforcement Directorate (ED) had submitted the copy in a competent court in Mumbai.
The EOW also filed an FIR against Doit Urban Ventures Ltd, a company linked to Rana Kapoor's family, the Chairman and Managing Director of Dewan Housing Finance Ltd (DHFL) Kapil Wadhawan and others.
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The remand copy further read, "It was noticed that simultaneously, DHFL had sanctioned a loan of Rs. 600 crores to M/s Doit Urban Ventures Limited (DOIT), a family enterprise of Rana Kapoor," it read.
It mentioned that the said transactions appeared to be suspicious in nature so searches were conducted at the residential premises of Rana Kapoor on March 6.
"During the course of investigation it has come to light that CBI/EO-I, New Delhi registered a case against DHFL, DOIT Urban Ventures (India) Limited, Rana Kapoor, the then Promoter Director and CEO of Yes Bank Ltd, Kapil Wadhwan, Promoter Director of M/s Dewan Housing Finance Limited and others under Prevention of Corruption Act, 1988," it added.
"As per the said FIR, Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, Promoter Director of M/s DHFL and others for extending financial assistance to M/s DHFL by Yes Bank Limited in lieu of substantial undue benefit to himself and his family members through the companies held by them," mentioned the remand copy.
Rana Kapoor was handed over to the Enforcement Directorate till March 11 by Mumbai's Special Court on Sunday.
The Reserve Bank of India (RBI) has imposed several restrictions, including a Rs 50,000 cap on withdrawal until April 3 this year, saying that the bank's financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.
Former State Bank of India's Chief Financial Officer Prashant Kumar was appointed administrator of Yes Bank last week on Thursday. A day later, Finance Minister Nirmala Sitharaman said the restructuring plan for Yes Bank will be implemented within 30 days.
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