MUMBAI: Rana Kapoor’s remand application submitted by the ED to the holiday court on Sunday mentioned that his secretary had coordinated with officials of the scam-tainted DHFL for a Rs 600-crore loan, believed to be a kickback, in DOIT Urban Ventures, a firm controlled by the Yes Bank founder’s three daughters. As per ED, the kickback was in lieu of a Rs 4,450-crore debenture investment and loan sanctioned by Yes Bank to DHFL group companies.
ED sources alleged that Kapoor misused his position in Yes Bank in several other cases too and received over Rs 2,000 crore in kickbacks for companies controlled by him or his family members. ED and the income tax department intensified their investigation against the Kapoors after the CBI registered a case against them. ED stated that just before the sanctioning of a Rs 600-crore loan, Yes Bank invested Rs 3,700 crore in short-term debentures in DHFL between April-June 2018. Yes Bank further gave a Rs 750 crore loan to another DHFL group company. Rajendra Mira
