The Enforcement Directorate (ED) has attached a London-based property currently worth ₹127 crore, linked to Yes Bank co-founder Rana Kapoor, in connection with a money laundering case. The total attachment now stands at ₹2,011 crore.
The residential flat, located on South Audley Street in London, was bought in 2017 for 9.9 million pound (about ₹93 crore) in the name of DOIT Creations Jersey Limited, of which Mr. Kapoor is allegedly the beneficial owner.
“Information from a reliable source revealed that Rana Kapoor is trying to alienate this property in London and that he has hired a reputed property consultant. Enquiries from open sources confirmed that this property has been listed for sale on several websites,” said the ED on Friday.
Its probe against Mr. Rana and others is based on an FIR registered by the CBI, which alleged that in April-June 2018, Yes Bank invested ₹3,700 crore in the short-term debentures of DHFL.
Kickback payment
Simultaneously, Kapil Wadhawan of DHFL allegedly paid a kickback of ₹600 crore to Mr. Kapoor and his family members in the garb of a loan to DOIT Urban Ventures (India) Private Limited.
Yes Bank had also sanctioned a loan of ₹750 crore to RKW Developers, a group company of DHFL beneficially owned by Mr. Wadhawan, Dheeraj Wadhawan and their family members. The loan was for a Bandra reclamation project, but the entire amount was allegedly siphoned off through shell companies.
Mr. Kapoor, Mr. Kapil Wadhawan and Mr. Dheeraj Wadhawan were arrested by the ED and they are currently in judicial custody.
The ED had attached properties worth ₹1,411 crore related to the Wadhawan brothers. In a separate case involving Mr. Kapoor, assets worth ₹307 were attached. The agency has also filed charge sheets against the accused persons.