Yes Bank Case: ED Attaches Rs2,203 Cr Assets of Rana Kapoor, Others
The Enforcement Directorate (ED) has attached Rs2,203 crore assets of Yes Bank founder's Rana Kapoor, his family, Dewan Housing Finance Ltd's (DHFL) promoters and others under the Prevention of Money Laundering Act (PMLA) in the Rs3,700 crore fraud case, according to officials, here on Thursday.
 
The ED had earlier filed a charge-sheet in the case against Kapoor, his daughter Roshni Kapoor - promoter of DoIt Urban Ventures (India), DHFL's Kapil R Wadhawan, Dheeraj R Wadhawan, and other entities, like Belief Realtors and RKW Developers.
 
Some foreign assets of Kapoor have also been frozen by the federal agency.
 
It follows a case registered in March by the Central Bureau of Investigation (CBI) under various laws, including the Prevention of Corruption Act, against the accused and unknown entities pertaining to fraud charges against Yes Bank.
 
On 9th March, the CBI searched the premises of the accused. In early May, two months after Kapoor's arrest on 8th March, the ED also filed separate charge-sheet before a Mumbai Special Court.
 
The ED is separately probing into allegations of Rs600 crore payment to a company, controlled by Kapoor and his family, by a firm linked with the scam-tainted DHFL.
 
The Mr Kapoors, including his wife and three daughters, allegedly received huge kickbacks through the companies owned by them for sanctioning big loans to some corporate entities that later turned into non-performing assets.
 
DHFL founders, Kapil Wadhawan and Dheeraj Wadhawan, were arrested in April by CBI in the same case from Mahabaleshwar, a hill station. They were absconding since the start of the probe. 
 
The CBI has charged that Yes Bank invested Rs3,700 crore in short-term debentures in DHFL for which the Wadhawans paid Rs600 crore kickback to the Kapoors in the form of a loan to DoIT Urban Ventures, owned by his daughters.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    mahesh.bhatt

    6 months ago

    So fat so soon so fast too??

    umeshs62

    7 months ago

    On one hand Thugs are siphoning of thousands of crores from banks and on the other hand government does not want to give any protection to depositors whose survival is dependent on their FDs and interest.

    rs235m

    7 months ago

    If the government is efficient ,attached properties have to be auctioned and deposits have to be refunded. This will not be done as Kapoor took loan and paid a part of it to political party.Coat suit thieves like Kapoor ,bank officials and politicians form three sides of a triangle to cheat public.

    rajoluramam

    7 months ago

    A bank with so many frauds, when raised their hands, all stalwart banks and LIC jumped with alarming speed and poured money to save the yes bank. Now, it is coming out with Rs 15000 crores public issue to augment its capital adequacy. Immediately, SBI declared that it is going to invest Rs 1750 crores in yes bank. The series of happenings with yes bank, right from the begining when it is about to collapse, show the abundent love towards bank by stalwart banks, LIC as well as GOI MF shows there is sombody, a highly influential person, interested in the bank. The poor PMC is the looser.

    REPLY

    rs235m

    In Reply to rajoluramam 7 months ago

    It is a big racket at veryhigh levels to cheat public who have invested their hard earned money after paying Inc tax through their nose. Such a big fraud cannot be executed without connivance of politicians and law enforcement agencies.

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