IT News
Mumbai, July 10:
The assets worth Rs 2200 crore located in Mumbai and Delhi, belonging to the founder director of “Yes Bank” and directors of Dewan Housing Finance Ltd (DHFL)- Wadhwan brothers, involved in a Rs 5050 crore scam were attached by the Enforcement Directorate (ED) on Thursday.
“Yes Bank” founder and former CEO Rana Kapoor, his family members and non-executive directors of DHFL- Kapil Wadhwan and Dheeraj Wadhawan are accused of defrauding the bank by suspicious loans.
Kapoor (62), allegedly entered into a criminal conspiracy with Wadhawan brothers for extending financial assistance to DHFL through “Yes Bank” in return for substantial undue benefits to himself and his family members through companies held by them.
The ED registered a case of money laundering against Kapoor following an FIR filed by CBI and arrested him on 8 March, 2020. In the FIR, it was alleged that, during April to June, 2018, “Yes Bank Limited” invested Rs 3,700 Crore in the short term debentures of DHFL, for which kickback of Rs 600 Crore were paid to Kapoor and his family members in the garb of loan to “DoIT Urban Ventures” (a firm floated by Kapoor’s daughters- Roshini Kapoor and Radha Kapoor Khanna).
In addition, “Yes Bank” had also sanctioned a loan of Rs. 750 Crore to “RKW Developers”, owned by Wadhawans, for their Bandra Reclamation Project in North West Mumbai but “the whole amount was siphoned off by Wadhawan brothers through their shell companies and was never used for the declared purpose.
Rana Kapoor was arrested on 8 March,2020, while Wadhawan brothers were arrested in April by CBI. Kapoor and Wadhawan brothers are currently lodged in the Taloja prison in Maharashtra.
The attached assets of Kapoor include: a residential building “Khursidabad” at Cumbala Hill, three duplex flats at Napean Sea Road, a residential flat in NCPA, Nariman Point and eight flats in India Bulls Blue, Worli…Mumbai and a bungalow at Delhi’ posh 40, Amrita Shergil Marg. The bungalow in Delhi is said to be of market value of Rs 685 Crore. However it was purchased at a much cheaper rate as quid pro quo for loans and credit facilities given to then owner of the property, “Avantha Reality” by Kapoor.
The attached assets belonging to Wadhawans, worth Rs. 1411.9 crore include 12 flats in Khar (West), Mumbai, two land Parcels in Pune and Mulshi (Maharashtra), one flat in New York, two flats in London, one Commercial property in Australia, five luxury vehicles and 344 bank accounts.
The Directorate had earlier attached bank deposits to the tune of Rs 115 Crore of various companies of 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.
Other than properties in India, the ED has also identified that Kapoor’s company “Doit Creations Jersey”, with an investment of Rs 83 crore. It has three properties in London, including a guesthouse on 77 South Audley Street in London worth £11.5 million, and another residential property. Some other expensive properties belonging to Kapoor are located in Lutyens’ Delhi, including on 18 Kautilya Marg and 20 Sardar Patel Marg. He also has 7.5 acres of beachfront land in Alibaug in Maharashtra.
