The CBI carried out searches at seven locations in Mumbai on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to its co-founder Rana Kapoor's family by scam-hit DHFL and issued a look out circular against the accused to prevent their escape, officials said.
The CBI has named five companies and seven individuals including Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha as accused in its FIR.
Dewan Housing Finance Corporation Limited (DHFL) and RKW Developers Private Limited and their then directors Kapil Wadhawan and Dheeraj Wadhawan, respectively also figure as accused in the FIR.
DoIt Urban Ventures controlled by the Kapoor family, RAB Enterprises (lndia) Private Limited in which Bindu Rana Kapoor was a director and Morgan Credits Private Ltd in which Rana Kapoor's daughters were directors are also named as accused.
While 10 teams of the agency were involved in the search operation spread across swanky south Mumbai neighbourhood, the agency issued Look Out Circular against all the seven accused --Kapoors and Wadhawans -- named in the FIR.
A lookout circular (LOC) alerts immigration staff at all the ports of entry and exit to prevent the accused from moving out of the country.
The Enforcement Directorate (ED), which arrested Kapoor, had already got LOC issued on the basis of which Roshini was stopped for leaving for London at the Chhatrapati Shivaji Maharaj International Airport, Mumbai.
The searches took place at the lavish apartment of Kapoor in the famous Samudra Mahal building in Worli, besides residences of his daughters Raakhe and Radha in the up-market NCPA complex, Nariman point, besides Wadhawan's home at Sea View, Palace Hills, the officials said.
The offices of DHFL, DoIT Ventures and RKW developers were also searched, they said.
The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Rana Kapoor's daughters, DoIT Urban Ventures (India) Pvt Ltd, the officials said.
The agency has alleged that between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of 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, the officials 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 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 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 a 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan.