Domain Registration

ED attaches assets worth Rs 2,600 cr in YES Bank money laundering case

  • July 09, 2020

The Enforcement Directorate (ED) on Thursday made a provisional attachment of assets worth Rs 2,600 crore in India and abroad belonging to YES Bank co-founder Rana Kapoor and promoters of Dewan Housing Finance ( DHFL), in connection with the Yes Bank money laundering case.

These properties include Rana Kapoor’s plush bungalow in Delhi at 40, Amrita Shergil Marg and his Mumbai flats in Worli and at Indiabulls One worth Rs 1,200 crore.

Another attachment order in the case which has been issued and is worth Rs 1,400 crore includes land in Australia belonging to DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan and some properties in Mumbai and suburban Maharastra.

Other than properties in India, the federal agency is learnt to have also identified that Kapoor’s company Doit Creation Jersey Ltd, having investment an of Rs 83 crore, has three properties in London, including a guest house at 77 South Audley Street, London, worth 11.5 million British pounds and another residential property.

However, it couldn’t be ascertained whether today’s attachment order has also been issued for Kapoor’s assets abroad.

ED has listed several properties managed and owned by Kapoor’s family and companies including bungalows, villas, farmhouses, apartments not just in Delhi and Mumbai, but also in London, the US , the UK and other places worth several thousand crores.

ED alleged that these assets had been created out of proceeds the Kapoors received from corporates in the form of kickbacks in exchange for sanctioning loans during his tenure in the YES Bank.

Some other expensive properties belonging to Kapoor are located in Lutyen’s Delhi including 18, Kautilya Marg and 20, Sardar Patel Marg. He also has 7.5 acres of beach-front land in Alibaug, Maharastra.

ED had in May filed a prosecution complaint in the Rana Kapoor case alleging laundering to the tune of Rs 5,050 crore.

Article source: https://www.business-standard.com/article/current-affairs/ed-attaches-assets-worth-rs-2-600-cr-in-yes-bank-money-laundering-case-120070900947_1.html

Related News