New Delhi: The Directorate of Execution (ED) has attached a ₹Rs 127 million from Yes Bank co-promoter Rana Kapoor in London in connection with a money laundering investigation against him and others, the central agency said on Friday.
The agency issued an interim order to repossess the property – Apartment 1, 77 South Audley Street, London – under the Prevention of Money Laundering Act (PMLA).
“The market value of the flat is 13.5 million pounds (approximately ₹127 crore). The property was purchased by Rana Kapoor in 2017 for £ 9.9 million ( ₹93 crore) in the name of DOIT Creations Jersey Limited and he is the beneficial owner, “the ED said in a statement.
He claimed that the agency obtained “information from a reliable source that Kapoor was trying to sell this London property and that it had hired a reputable real estate consultant.”
“Open source inquiries confirmed that this property has been listed for sale on various websites,” he said.
The agency, under procedure, will now approach its UK counterparts to enforce the seizure order and issue a proclamation that the asset cannot be bought or sold as it has been seized under the criminal sections of the PMLA. .
ED has previously seized assets in the US, Dubai, and Australia in a similar manner as part of other investigations under the PMLA.
The ED had booked Kapoor, his family members and others under the PMLA after studying a CBI FIR alleging that Yes Bank made doubtful loans of several crore to various entities in contravention of the law and in lieu of alleged bribes. Awarded to the Kapoor family.
The CBI FIR had stated that during April-June 2018, Yes Bank Limited had invested ₹Rs 3.7 billion in short-term obligations of DHFL.
“Simultaneously, Kapil Wadhawan of DHFL paid bribes from ₹600 million rupees to Rana Kapoor and her family members in loan attire from ₹600 crore (granted by DHFL) to DOIT Urban Ventures (India) Pvt Ltd (Rana Kapoor group company) “.
“In addition to the above, Yes Bank Ltd had also sanctioned a loan of ₹750 crore for RKW Developers, a DHFL group company owned by Kapil Wadhawan, Dheeraj Wadhawan and their families, “the ED alleged.
This loan from ₹They had been sanctioned 750 crore for their Bandra Recovery Project, Mumbai, but the entire amount was diverted by Kapil Wadhawan and Dheeraj Wadhawan through their shell companies, he said.
Rana Kapoor, Kapil Wadhawan and Dheeraj Wadhawan have been detained by the DE in this case and are currently in judicial custody.
The agency had also filed charges sheets with a special court in Mumbai in this case.
The ED had previously attached properties in this case and with this order, the total attachment in this probe is at ₹2,011 crore. PTI NES SMN SMN
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