The Enforcement Directorate (ED) has provisionally attached a residential flat of YES Bank founder Rana Kapoor, the address for which is: Apartment 1, 77 South Audley Street, London, UK.
The market value of the flat is £13.5 million (Rs 127 crore). "The said immovable property was purchased by Kapoor in 2017 for £9.9 million (Rs 93 Crore) in the name of DOIT Creations Jersey Limited, wherein accused Kapoor is the beneficial owner," said an ED officer.
According to the ED, reliable sources had revealed that Kapoor was trying to sell off this property and had hired a reputed property consultant for the purpose. Enquiries from open sources confirmed that the property had been listed for sale on several websites, the agency said.
The ED had initiated investigation under the Prevention of Money Laundering Act (PMLA) against Kapoor and others, on the basis of an FIR registered by the Central Bureau of Investigation (CBI). According to the CBI's FIR, from during April to June 2018, M/s Yes Bank Limited had invested Rs. 3,700 crore in short-term debentures of M/s DHFL.
Simultaneously, Kapil Wadhawan of DHFL had paid a kickback of Rs 600 crore to Kapoor and his family members, in the garb of loan of Rs 600 crore from M/s DHFL to M/s DOIT Urban Ventures (India) Pvt. Ltd (a Rana Kapoor Group Company).
In addition to the above, M/s Yes Bank Ltd. had also sanctioned a loan of Rs 750 crore to M/s RKW Developers, a group company of DHFL beneficially owned by Kapil Wadhawan, Dheeraj Wadhawan and their family members. The said loan of Rs. 750 crore had been sanctioned to them for their Bandra Reclamation Project but the whole amount was allegedly siphoned off by Kapil and Dheeraj Wadhawan through their shell companies, the ED has alleged.
Kapoor, Kapil and Dheeraj Wadhawan were arrested by the ED and are in judicial custody.
The total attachments in the case so far stand at Rs 2,011 crore. Among these attachments, proceeds of crime amounting to Rs 600 crore belong to Kapoor and the remainder, worth Rs 1,411 crore are linked with the Wadhawan brothers.
