The Enforcement Directorate has provisionally attached assets worth Rs 2,203 crore of Yes Bank promoter Rana Kapoor and others in connection with a money laundering case.
The present market value of the attached assets is more than Rs 2,800 crore and include immovable properties in India and abroad, bank accounts, investments and luxury vehicles, the ED said in a statement.
Besides Lapoor, these assets belong to DHFL’s Kapil Wadhawan and Dheeraj Wadhawan and the entities controlled by them.
The attached assets of Kapoor and related entities are worth Rs 792 crore ( present market value Rs 1,400 crore) which include an independent residential building “Khursidabad” at Cumbala Hill, three duplex flats at Napean Sea Road, Mumbai, residential flat in NCPA, Nariman Point; eight flats in India Bulls Blue, Worli, Mumbai.
Besides a bungalow belonging to Kapoor at 40 Amrita Shergill Marg in New Delhi having market value of Rs 685 crore has also been attached.
The attached assets belonging to Wadhawans and related entities are worth Rs 1,411.9 crore which include 12 flats in Khar (West), Mumbai; one flat in New York and two flats in London, two land parcels in Pune and Mulshi, one commercial property in Australia; five luxury vehicles and 344 bank accounts.
The ED had initiated investigations against Rana Kapoor, Kapil Wadhawan and Dheeraj Wadhawan besides others under Prevention of Money Laundering Act (PMLA) on the basis of FIR registered by CBI under IPC Sections relating to criminal conspiracy and cheating besides provisions of Prevention of Corruption Act.
The ED had earlier attached bank deposits to the tune of Rs 115 crore of various companies of Rana Kapoor and seized jewellery worth Rs 22.87 crore and seven high end luxury cars worth Rs 12.58 crore belonging to the Wadhawan family.
Kapoor and Wadhawans were arrested by ED for their role in the money laundering case and all of them are in judicial custody.
It was alleged that, during April to June, 2018, Yes Bank Limited had invested Rs 3,700 crore in the short term debentures of DHFL, a company belonging to Wadhawans for which kickback of Rs 600 crore was paid to Rana Kapoor and his family members in the garb of loan.
In addition, Yes Bank Ltd. had also sanctioned a loan of Rs 750 crore to one of the RKW Developers Group company, beneficially owned by Kapil Wadhawan, Dheeraj Wadhawan and their family members, for their Bandra Reclamation Project in Mumbai. But the whole amount was siphoned off by Kapil Wadhawan and Dheeraj Wadhawan through their shell companies and was never used for the declared purpose, the ED said.
Further, a separate case was recorded against Rana Kapoor, Gautam Thapar and others under PMLA on the basis of another FIR registered by CBI on similar charges under IPC and Prevention of Corruption Act.
This CBI FIR alleged that Rana Kapoor obtained illegal gratification in the form of a property in a prime location in New Delhi at much less than the realizable market value, belonging to Avantha Reality Ltd. (ARL).
