CBI charges Wadhawans of DHFL and Rana Kapoor family for massive frauds

New Delhi: DHFL promoters Kapil and Dheeraj Wadhawan and Yes bank co-founder Rana Kapoor collude with each other to siphon off public money, the CBI has said in charge-sheet. The CBI has charge-sheeted the Wadhawans, Rana Kapoor and his daughter Roshni Kapoor, according to media reports.

Wadhawans are already I jail and the CBI plans to arrest Rana Kapoor and interrogate him. 

This is the first charge-sheet in the case and deals with criminal conspiracy by Kapoor in the investments worth Rs 3,700 crore by his bank in short-term debentures of DHFL. The investments were made between April-June 2018. The Wadhawans paid a kick-back worth Rs 600 crore to the Kapoors. The money was paid to the Kapoors in the name of loan. 

The Rs 600 crore loan was given by Wadhawan to DOIT Urban Ventures, a wholly-owned subsidiary of RAB Enterprises. RAB Enterprises is a company owned by Roshni Kapoor. 

After the kick-back, Yes Bank also gave a loan worth Rs 750 crore to RKW Developers. This company RKW Developers belonged to Dheeraj Wadhawan. The money was given for a project in Bandra, Mumbai. The Rs 750 crore money made it to the parent comnay of RKW Developers-DHFL without any investment in the Bandra project.

About 100 shell companies were made use of by the Kapoors for diverting all the black money and hideous loans.