The ED opened its money laundering investigation into the case on March 7 based on a CBI First Information Report, which was filed the same day against 12 people, including Kapoor, his three daughters and his wife, the Wadhawan brothers, and five businesses. The ED and CBI cases examined allegations that Kapoor colluded with Kapil Wadhawan and others to provide financial assistance to DHFL instead of a ‘substantial unfair advantage’ to himself and his family members through companies they owned. Between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL, it was alleged.
Simultaneously, Wadhawan allegedly paid a bribe of Rs 600 crore in loans to DOIT, of which Kapoor’s daughters are 100% shareholders. DOIT is a wholly owned subsidiary of a company in which Kapoor’s wife is a director and 100% shareholder. The
Others named in ED’s supplemental indictment included a Chartered Accountant (CA), Dr Jain, who told ED earlier that he allegedly gave
According to Jain, he had given certificates issued to BRPL to comply with the requirement of the bank’s 750 crore loan after checking bank statements showing incoming payments to three companies from the loan taken out by BRPL. ED had previously informed the court of the findings of its investigation which revealed that it was the RBI which first detected an alleged impropriety in dealings between Kapoor and the DHFL Group in 2018, after which the bank had to cancel a loan proposal of Rs 950 crore to BRPL. .