(Juhi Aishwary, Intern Journalist)

Mumbai: The ED on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor in a special court in Mumbai. The ED (Enforcement Directorate) alleges that Kapoor and his family members secured Rs 4,300 crore to issue large loans through their companies. Kapoor is also accused of receiving a bribe instead of debt recovery, which the assets later turned into non-performing assets (NPAs).

On March 8, the central agency arrested Kapoor, former managing director (MD) and chief executive officer (CEO) of the bank, under the Prevention of Money Laundering Act (PMLA). The Enforcement Directorate (ED) is also investigating, among other things, the Rs 600 crores received by the companies controlled by Kapoor, his wife, and three daughters from the Dewan Housing Finance Limited (DHFL) accused of the scam. Explain that about two months after the arrest, the said charge sheet has been filed against Kapoor.

It was noteworthy that DHFL founders Kapil Wadhavan and Dheeraj Wadhavan were also arrested last month from Mahabaleshwar, who are in CBI custody. In the past, a Maharashtra court had extended the CBI custody period of Kapil and Dheeraj Wadhavan, promoters of DHFL, and another accused of Yes Bank scams till May 8. Both of them were involved in the CBI deal 50 days after a bribe to former Yes Bank chief executive (CEO) Rana Kapoor and a report of involvement in the scam.

The CBI had sought extension of custody to find out the deep conspiracy of Wadhavan and Kapoor, saying that the Wadhavan brothers run more than 150 mask companies, which require investigation. Apart from these, Rana Kapoor and his family-run several companies. It is necessary to check whether the Wadhawan brothers have done any transaction with companies operated on behalf of Rana Kapoor’s family. 

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