An ED official said that the agency has issued a provisional order, under the PMLA for attachment of properties
The Enforcement Directorate on Thursday attached about Rs2,800 crore worth of property, including flats in London and New York, belonging to Yes Bank co-founder Rana Kapoor and the Wadhawan brothers of DHFL company. An ED official said that of the attached properties, Rs1,400-crore worth properties belonged to Kapoor and his family members.
Kapoor's frozen assets include a bungalow (no 40) located at the upmarket Amrita Shergill Marg in Delhi that is worth Rs 685 crore, an independent residential building 'Khursidabad' at Cumbala Hill in south Mumbai, three duplex flats at Napean Sea Road in Mumbai, a residential flat in NCPA, Nariman Point and eight flats in India Bulls Blue in the Worli area of Maharashtra's capital city, the ED said. "These attached assets relating to Rana Kapoor and linked entities have a total value of Rs 792 crore but their present market value is Rs 1,400 crore," the agency said. I
In the case of Dewan Housing Finance Corporation (DHFL) promoter brothers Kapil and Dheeraj Wadhawan, the value of the attached properties is Rs 1,411.9 crore that includes a dozen flats in Khar (West) area of Mumbai, a flat in New York, two flats in London, two land parcels in Pune and nearby Mulshi, a commercial property in Australia, five luxury vehicles and 344 bank accounts, the ED said.
An ED official said that the agency has issued a provisional order, under the Prevention of Money Laundering Act (PMLA), for attachment of properties. “The present market value of these assets is more than Rs 2,800 crore,” he said.
The agency had filed a PMLA case against the three men early this year and has accused Kapoor, his family members and others of laundering proceeds of crime worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned into non-performing assets (NPA). An alleged dubious link between Yes Bank and DHFL is under the ED's probe scanner.
“During April-June 2018, Yes Bank Limited had invested Rs 3,700 crore in short term debentures of DHFL, a company belonging to the Wadhawans, for which kickback of Rs 600 crore was paid to Rana Kapoor and his family members in the garb of loan,” the ED alleged.
“In addition, Yes Bank had also sanctioned a loan of Rs 750 crore to a RKW Developers group company beneficially owned by Wadhawans and their family members for their Bandra Reclamation Project in Mumbai but the whole amount was siphoned off by the brothers through their shell companies and was never used for the declared purpose,” the probe agency has alleged.