Categories: Business

ED attaches over Rs 2,200 crore assets of Rana Kapoor, others in Yes Bank PMLA case


ED attaches over Rs 2,200 crore assets of Rana Kapoor

new Delhi. The Enforcement Directorate (ED) has seized a total of Rs 2,203 crore worth of assets of Yes Bank co-founder Rana Kapoor and others under the Money Laundering Act. Officials gave this information on Thursday. Authorities said the assets of the DHFL promoters Kapil and Dheeraj Wadhawan brothers have also been seized following an interim order issued by the ED under the Prevention of Money Laundering Act. Apart from this, the agency has also banned some of Kapoor's foreign assets. The ED alleges that Kapoor and his family members and others took a bribe to pay large loans through the bank. These people made a crime of around Rs 4,300 crore. Later this debt became non NPA. Kapoor was arrested by the Central Investigation Agency in March. He is currently in judicial custody.

The properties seized by the ED include a bungalow and 6 flats in Mumbai, a property worth Rs 48 crore in Delhi, and 5 luxury cars. Foreign assets include 1 in New York, 2 in London, and a commercial property located in Australia. Last week itself, the special court granted interim relief to Rana Kapoor from arrest in a case filed by the CBI till July 11. In this case, Rana Kapoor is accused of taking a bribe from Avantha Group, according to which the group companies were given a bribe of Rs 307 crore for not showing strictness in the Rs 1900 crore debt case.

According to the ED's charge sheet filed in May, Rana Kapoor misused his position at Yes Bank and with the help of shell companies, diverted the money of wrong earnings. According to the ED, during the tenure of Rana Kapoor, the debt of about 30 thousand crore rupees remained under pressure and out of this, the loan of 20 thousand crore rupees was turned into NPA.

This post was published on July 10, 2020 4:16 am

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