Enforcement Directorate (ED) officers on Thursday hooked up properties value ₹2,600 crore belonging to Rana Kapoor and Dewan Housing Finance Corporation Limited’s (DHFL) Dheeraj and Kapil Wadhawan in reference to the ₹3,642-crore Yes Bank cash laundering case. Among these have been flats in Mumbai owned by Kapoor and two land parcels in Pune owned by the Wadhawans. Director of ED, SK Mishra has confirmed the event.
Altogether, properties with a present market worth of ₹1,200 crore, belonging to Kapoor; and properties value roughly ₹1,400 crore belonging to DHFL, have been hooked up by ED to this point. “The properties include 12 apartments and land parcels in New York, London, Australia, Mumbai, Delhi and Pune,” mentioned an ED official on situation of anonymity. The attachment drive is more likely to proceed as extra properties of the accused are below scanner, the ED official added. Kapoor is the co-founder and former managing director of Yes Bank. Dheeraj and Kapil Wadhawans are promoters of DHFL.
ED has hooked up 12 flats in Khar; one flat in New York; two flats in London; property in Australia, two land parcels in Pune and Mulshi; 5 luxurious automobiles and 344 financial institution accounts belonging to the Wadhawans and others. The valuation of those property is value ₹1,411.9 crore. The company has additionally hooked up a constructing at Cumballa Hill, three duplex flats at Nepean Sea Road, a flat at Nariman Point, eight flats in Worli and a bungalow in New Delhi’s Amrita Shergill Marg, all of that are owned by Kapoor and others.
The Central Bureau of Investigation (CBI) had registered a case on March 7, in reference to suspicious loans granted by Yes Bank and an alleged association between Kapoor and Wadhwans. Kapoor is being probed for suspected cash laundering utilizing over 100 shell firms and for engendering huge non-performing property (NPAs), which led to a moratorium on Yes Bank by the Reserve Bank of India (RBI).
Kapoor was arrested on March eight after ED charged him with cash laundering. Kapoor additionally allegedly purchased debentures value ₹3,700 crore of DHFL, which haven’t been redeemed until date and in opposition to which the Wadhawans allegedly paid a kickback of ₹600 crore to Kapoor, within the type of a mortgage to an organization registered to Kapoor’s daughters. The mortgage was given in opposition to properties whose worth was proven to be ₹750 crore though their market worth was ₹40 crore.
ED has alleged that in his tenure, Kapoor sanctioned loans value ₹30,000 crore out which accounts value ₹20,000 crore have became NPAs. Kapoor additionally allegedly accepted unlawful gratification whereas granting loans and cash was diverted by these firms. In a cost sheet filed on May 6, ED mentioned, “Kapoor, with an intent to create an elaborate ecosystem for diversion and laundering of funds, had created multiple entities in India and abroad. These companies were acting as a vehicle of money laundering and placement of funds, and the family members and close associates were put in as directors of these firms.”
The cost sheet – filed in opposition to Kapoor, his spouse Bindu, daughters Rakhee, Roshni and Radha together with entities allegedly related – pegged the fraud at ₹5,050 crore. The company had additionally provisionally hooked up 59 costly work, together with one by artist MF Husain.