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 extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said.
According to the CBI FIR, the scam started taking shape between April and June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL).
In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said.
The Reserve Bank of India on Thursday placed Yes Bank under a moratorium, capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
The 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. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI. On Sunday, the Enforcement Directorate (ED) arrested Kapoor under the provision of the Prevention of Money Laundering Act (PMLA).
Shares of Yes Bank on Monday zoomed over 30 per cent after 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.