Former Yes Bank founder, Rana Kapoor's wife, Bindu was a director in the main investment and holding companies associated with Rana Kapoor, including Morgan Credits, Yes Capital (India), DoIt umbrella companies, RAB among others.
The majority of these companies are realty nomenclatured like Bliss, Imagine, Mantra where the suspicion is that the money was siphoned off into realty ventures. In Delhi alone, Rana Kapoor had three bungalows.
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Some of these companies are named in the CBI FIR in which DHFL is also named.
DHFL, DOIT Urban Ventures (lndia) Pvt Ltd, RAB Enterprises (lndia) Pvt Ltd, Morgan Credits Pvt Ltd and RKW Developers Pvt Ltd are among the firms named in the CBI FIR registered under charges of criminal conspiracy, cheating, bribery, abetment of bribery and criminal misconduct.
The individuals named in the CBI FIR are Rana Kapoor, his wife Bindu Rana Kapoor (the then director of RAB Enterprises), and their daughters Roshini Kapoor (director of Morgan Credits Pvt Ltd and Doit Urban Ventures), Raakhe Kapoor Tandon (director of Morgan Credits Pvt Ltd) and Radha Kapoor Khanna (director of Morgan Credits Pvt Ltd and Doit Urban Ventures (lndia) Pvt Ltd.
The kickback was given by DHFL to DOIT Urban Ventures (lndia) Pvt Ltd -- a wholly owned subsidiary of RAB Enterprises (lndia) Pvt Ltd in which Rana Kapoor's wife Bindu Kapoor is a director and 100 per cent shareholder.
The investigators found out that Rana Kapoor's daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor -- are also 100 per cent shareholders of DOIT Urban Ventures (lndia) Pvt Ltd through Morgan Credits Private Limited.
Most of the companies are under the Doit, Bliss, Imagine umbrella of companies. Bindu Kapoor is also named as a director in companies like Bliss Home, Imagine Residence, Doit E Solutions, Doit Creative Consumer Ventures, Morgan Exim, Doit Sports Management, Doit Creations, Liasaria Agri and Ecotourism, Doit Innovative Attractions, Bliss Agri, Bliss Address, RAB Enterprises, Imagine Realty, Doit Smart Aviation, Morgan Habitat, Mantra Realty among others.
The other companies where Bindu Kapoor is named as a director are Indian School of Management and Entrepreneurship, Press2 Drycleaning, Harmony Bright Education, Alibaug Eco Tourism, Imagine Estate, Imagine Property, Bliss House, Imagine Home, Bliss Habitat, Doit Smart Hospitality, Art Capital, Doit Abode (Goa), Imagine Habitat, Bliss Abode, Bliss Apartment, Dice Acceleration, Doit Urban Ventures, Art Capital, Bliss Villa (Delhi), Doit Retail Networks and Dice Networks.
The CBI investigation into the ongoing case involving Yes Bank founder Rana Kapoor has revealed that he and his family members were paid Rs 600 crore kickback by DHFL promoter Kapil Wadhwan in the garb of "builder loan".
It was part of a criminal conspiracy hatched during April to June 2018 between Rana Kapoor, Wadhwan and others for extending financial assistance to Dewan Housing Finance Limited (DHFL) by Yes Bank Ltd.
In lieu of substantial undue benefit to himself and his family members through the companies held by Rana Kapoor, Wadhwan and his family members, the whole conspiracy was hatched, said the Central Bureau of Investigation (CBI) First Information Report (FIR) filed on March 7.
Even as Yes bank founder Rana Kapoor is under Enforcement Directorate custody, agency officials claimed that the former MD and CEO and his family members allegedly set up over 20 shell companies to receive kickbacks.
Kapoor was arrested by the ED officials on Sunday morning after over 30 hours of questioning in connection with a probe into money laundering case involving Dewan Housing Finance Limited (DHFL).
A senior ED official on requesting anonymity told IANS: "Kapoor and his family members, including his wife Bindu and three daughters, had set up more than 20 shell companies that were allegedly used to receive kickbacks."
He said the money received through kickbacks was used to invest in properties. The official also claimed that the shell companies allegedly received kickbacks from the corporate entities, who were bank customers and had taken loans.
The source further said that the ED has also recovered documents that show some assets of the Kapoor family in London. He said that the source of funds for their acquisition is now being investigated.