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Investigation

Unravelling the Yes Bank saga: how Doit and an obscure web of companies helped the Kapoor clan do it

Doit Urban Ventures, which allegedly received kickbacks from DHFL, routed it to other group companies. A web of firms entangled in related-party deals and circular transactions raises a stink in the Yes Bank episode. In this deep dive, ET Prime connects the dots for you.
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nsundareshasubramanian
16 Mar 2020 11 Mins Read 6 comments
From left, Kapil Wadhawan, chairman and managing director, DHFL and Rana Kapoor, former CEO, Yes Bank; image credit: BCCL and Getty Images
From left, Kapil Wadhawan, chairman and managing director, DHFL and Rana Kapoor, former CEO, Yes Bank; image credit: BCCL and Getty Images
“Imagine bliss, and do it.” No, it’s not a mantra for life from some new-age spiritual gurus. But it’s the mantra for Yes Bank’s former promoter Rana Kapoor and his family when naming their companies — many of which are now under the probe of multiple agencies for allegedly routing kickbacks received from dubious borrowers. An ET Prime
Thus, the apprehensions of any alleged wrongdoing etc., is without any basis, merits, or substance.” Going by the details given in the FIR, CBI seems to have found enough substance. With other agencies such as the ED also hot on their heels, the Kapoors can only imagine bliss, at least for now. ( Graphics by Mohammad Arshad)
“Imagine bliss, and do it.” No, it’s not a mantra for life from some new-age spiritual gurus. But it’s the mantra for Yes Bank’s former promoter Rana Kapoor and his family when naming their companies — many of which are now under the probe of multiple agencies for allegedly routing kickbacks received from dubious borrowers. An ET Prime Thus, the apprehensions of any alleged wrongdoing etc., is without any basis, merits, or substance.” Going by the details given in the FIR, CBI seems to have found enough substance. With other agencies such as the ED also hot on their heels, the Kapoors can only imagine bliss, at least for now. ( Graphics by Mohammad Arshad)

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