Yes Bank case: ED attaches Rs 2,200cr assets of Kapoor, others

MUMBAI: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 2,203 crore of Yes Bank founder Rana Kapoor, his family members and the promoters of Dewan Housing Finance Corporation Ltd (DHFL) group — brothers Kapil and Dheeraj Wadhawan — in a money-laundering case linked to defrauding the bank. The present market value of these assets is over Rs 2,800 crore.
The attached properties of Kapoor and the related entities is valued at Rs 792 crore — the current market value is Rs 1,400 crore. The assets include a residential building at Cumbala Hill, three duplex flats at Napean Sea Road, a flat near NCPA, eight flats in IndiaBulls Blue, Worli, and a bungalow at 40 Amrita Shergill Marg in Delhi, which is worth around Rs 685 crore, stated an ED release.
The attached assets belonging to the Wadhawans and their related entities are worth Rs 1,411.9 crore. These include 12 flats in Khar (W), one flat in New York, two flats in London, two plots in Pune and Mulshi, one commercial property in Australia, five luxury vehicles and 344 bank accounts.
Earlier, the ED had attached bank deposits of Rs 115 crore of Kapoor’s various companies and had also seized jewellery worth nearly Rs 22.9 crore and seven high-end luxury cars worth Rs 12.6 crore belonging to the Wadhawans.
The ED had initiated a probe based on an FIR registered by the CBI. Between April and June 2018, Yes Bank had invested Rs 3,700 crore in short-term debentures of DHFL, for which Kapoor and his family members had allegedly received Rs 600 crore as kickback in the garb of loan to his daughters’ company.