Contents and Allegation in First CBI FIR against Mr. Rana Kapoor

CBI FIR No. RC 219 2020 E0004 dated 07/03/2020

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Sections:   120-B r/w 42O of IPC and Section 7, 12 & 13(2) r/w 13(1)(d) of PC Act, 1988 and Substantive Offences thereof.

Accused:

1.      M/s Dewan Housing Finance Corporation Limited (DHFL) Registered Address : Warden House 2nd Floor Sir P M Road, Fort Mumbai.

2.      M/s DOIT Urban Ventures (lndia) Private Limited Registered Address: 15^th Floor, Tower 2, Wing-A, One lndiabulls Centre Lower Parel, Senapati Bapat Marg, Elphinstone Road, Mumbai.

3.      M/s RAB Enterprises (lndia) Private Limited: 1Sth Floor, Tower 2, Wing-A, One lndiabulls Centre Lower Parel, Senapati Bapat Marg, Elphinstone Road Mumbai.

4.      M/s Morgan Credits Private Limited. Registered Address: 15^th Floor, Tower 2, Wing-A, One Indiabulls Centre Lower Parel, Senapati Bapat Marg, Elphinstone Road, Mumbai.

5.      M/s RKW Developers Private Limited., Registered Address HDIL Towers, 4th Floor Anant Kanekar Marg, Bandra (East) Mumbai.

6.      Sh. Rana Kapoor, the then Promoter Director of M/s Yes Bank Limited., Address . 427-428, 27th Floor, Samudra Mahal, Dr. A.B. Road, Worli, Mumbai-400018

7.      Sh. Kapil Wadhwan, Promoter Director of M/s Dewan Housing Finance Corporation Limited,22123, Sea View, Palace Hills, Bandra West, Mumbai-400050

8.      Smt. Bindu Rana Kapoor, the then Director of M/s RAB Enterprises (India) Private Limited. Address : 427-428, 27th Floor, Samudra Mahal, Dr. A.B. Road, Worli, Mumbai-400018

9.      Ms. Roshini Kapoor, Director of M/s Morgan Credits Private Limited and M/s Doit Urban Ventures (lndia) Private Limited. Address :427-428, 27th' Floor, Samudra Mahal, Dr. A.B. Road, Worti, Mumbai-40001 8

10.    Ms. Raakhe Kapoor Tandon, Director of M/s Morgan Credits Private Limited Address '. 34, NCPA Complex, Nariman Point, Mumbai-400021

11.    Ms. Radha Kapoor Khanna, Director of M/s Morgan Credits Private Limited and M/s Doit Urban Ventures (India) Private Limited, Address: 144, 14th Floor, NCPA Complex, Nariman Point, Mumbai-400021.

12.    Sh. Dheeraj Rajesh Kumar Wadhawan, Director of M/s RKW Developers Private Limited 22123, Sea View, Palace Hills, Bandra West, Mumbai-400050

13.    Unknown Others.

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Allegations:

1.      In furlherance of the said criminal conspiracy during the month of April to June 2018, M/s Yes Bank Limited invested Rs 3700/- Cr. in the short term debentures of M/s DHFL. Simultaneously Sh. Kapil Wadhawan paid a kickback of Rs 600 Crores to Sh. Rana Kapoor and his family members in the garb of builder loan of Rs 600 Crores given by M/s DHFL (in which Sh. Kapil Wadhawan is a promoter director) to M/s DOIT Urban Ventures (lndia) Private l-imited, a wholly owned subsidiary of M/s RAB Enterprises (lndia) Private t-imited in which Mrs. Bindu Kapoor, wife of Sh Rana Kapoor is a director and 100% shareholder.Furthermore, the daughters of Sh Rana Kapoor namely Ms. Roshini Kapoor, Ms. Radha Kapoor Khanna and Ms. Raakhe Kapoor Tandon are 100o/o shareholders of Mis DOIT Urban Ventures (India) Private limited through M/s Morgan Credits Private Limited.

2.      It has been further learnt that loan of Rs 600 Crores was sanctioned by M/s DHFL to M/s DOIT Urban Ventures (India) Private Limited on the basis of a modgage of a sub- standard property having very meager value and by considering its future conversion from agricultural land to the residential land.

3.      It has been learnt that M/s DHFL has not redeemed the amount of Rs 3700 Crores invested by M/s YES Bank in its debentures till date.

4.      It has been further learnt that in addition to the above M/s Yes Bank Lirnited also sanctioned a loan of Rs 750 Cr. to M/s RKW Developers Private Limited (Director Sh Dheeraj Rajesh Kumar Wadhawan) which is a DHFL group company for their Bandra Reclamation Project, Mumbai and the whole amount was siphoned off by Sh. Kapil Wadhawan since the entire amount was transferred by Mis RKW Developers Private Limited to M/s DHFL without making investment in Bandra Reclamation Project for which the loan was sanctioned.

5.      Thus, Sh' Rana Kapoor, Director of M/s Yes Bank Limited obtained undue pecuniary advantage from M/s DHFL in the matter of investment in the debentures of M/s DHFL by M/s yes Bank, through the companies herd by his wife and daughters. tt is also apprehended that Sh Rana Kapoor has similarly his official position in several other transactions and obtained illegal kickbacks directly or indirectly through entities controlled by him or his family members.

6.      M/s Yes Bank Limited is a private bank governed by Banking Regulations Act. As per the section 46-A of the Banking Regulations Act provides that fulltime chairs, Managing Directors and Directors of a banking company are to be considered public servants. The Hon'ble Supreme Court in its Judgement in the rnatter of Ramesh Gelli v. CBI has ruled that the office bearers of a private bank (u/s 46-A of the Banking Regulation Act) would be treated as public servants under section 2(c) of PC Act, 1988.

The aforementioned facts prima facie disclose the commission of cognizable offences u/s 120-B r/w 420 of rpc and section 7, 12 & 13(2) r/w 13(1)(d) of PC Act, 1988 against the aforementioned companies and individuals and entrusted to Sh. Jaivardhan Sharma, Inspector CBI/EO-I/Dethi for investigation.

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