The Enforcement Directorate on Wednesday filed a chargesheet against former Yes Bank founder and Managing Director Rana Kapoor, his wife and daughters, before a special Prevention of Money Laundering Act court in Mumbai, the Hindustan Times reported. The Enforcement Directorate had arrested Kapoor on March 8.
On March 9, the Central Bureau of Investigation issued a lookout notice against Kapoor and his family. The investigative agency also issued lookout circulars against DHFL promoter Kapil Wadhawan and his brother Dheeraj Wadhawan. This came after the CBI conducted raids in seven locations linked to the Kapoor family in Mumbai. The lookout circular was issued against all the seven accused to prevent them from leaving the country.
According to the CBI case, Yes Bank invested around Rs 3,700 crore in DHFL around the same time it granted a Rs 600-crore loan to a company called DoIT Urban Ventures Private Limited, owned by Rana Kapoor’s three daughters Roshni Kapoor, Rakhee Kapoor Tandon, and Radha Kapoor. The CBI has alleged that Rana Kapoor, in criminal conspiracy with Kapil Wadhawan and others, had invested in DHFL through Yes Bank to gain undue benefits for himself and his family.
Roshni Kapoor was stopped by Enforcement Directorate officials at the Mumbai airport in March.
The Reserve Bank of India had in March taken control of Yes Bank, after the lender – which is laden with bad debts – failed to raise the capital it needs to stay above mandated regulatory requirements. Placing Yes Bank under a 30-day moratorium, the central bank had imposed a limit of Rs 50,000 on withdrawals to protect depositors.