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The case is on the grounds of fraud, cheating, corruption and violation of lending norms as the bank had allegedly disbursed loans to borrowers of their choosing because of personal gratification. The federal agency claimed that Yes Bank invested in short-term debentures of DHFL worth Rs 3,700 crore to which the Wadhawan answered with \u2018paid kickbacks worth Rs 600 crore\u2019 to Rana Kapoor and family by way of a \u201cbuilder loan\u201d to DOIT.<\/p>\n
Kapoor in June 2018 also sanctioned a loan worth Rs 750 crore to DHFL Group Company according to the CBI<\/a> chargesheet. The loan was in the name of Belief Realtors Pvt Ltd. for development of a Bandra Reclamation Project. After a probe by the agency in this regard, it was revealed that the amount was not used for the same purpose.<\/p>\n Four firms, namely RKW Developers Private Limited<\/a> (RKW) and Belief Realtors Private Limited<\/a>, DOIT Urban Ventures<\/a> (India) Pvt Ltd (DOIT) and DHFL and group firms stand accused in the 100 page chargesheet by CBI. Dheeraj, Kapil\u2019s brother is a director of RKW and Roshini, Kapoor\u2019s daughter is a director of DOIT. <\/p>\n Ravneet Gill, former Yes Bank CEO was also recorded as a witness. \u201cSince his statement was recorded during the initial stage of the investigations, it only dwells on the functioning of the bank and his takeover after Kapoor exited the bank.\u201d ET sources reported, adding that \u201cThe investigation is still under way and Gill will be called again to join the probe\u201d.<\/p>\n An Rs 300 crore mortgage loan to DUVPL with in-principle approval by Wadhawan six months before it was sanctioned also indicated the criminal conspiracy that had been going on. \u201cKapil Wadhawan<\/a> unauthorisedly sanctioned a bridge loan of Rs 300 crore in violation of his sanctioning power\u201d ET sources said. The officials further said that Wadhawan was only allowed to sanction loans of up to Rs 200 crore, \u201cEven the sanction note was not submitted for approval by the finance committee of the board\u201d.<\/p>\n