Yes Bank case- Assets worth Rs. 2,203 crore attached by ED; Details inside-

New Delhi, July 10: The Enforcement Directorate on Friday attached assets to the tune of Rs 2203 crore in the Yes Bank case. These assets which include immovable properties in India and abroad, bank accounts, investments, luxury vehicles and others belong to Rana Kapoor, Kapil Wadhawan and Dheeraj Wadhawan and the entities controlled by them.

 

Earlier, the ED had attached bank deposits to the tune of Rs 115 crore of various companies of Rana Kapoor and seized jewellery worth around 23 crore and 7 high end luxury cars belonging to the Wadhawan family. They were also arrested by ED for their role in money laundering and presently all of them are in judicial custody.

  

 

The ED had initiated investigations against them under Prevention of Money Laundering Act on the basis of FIR registered by CBI in which it was alleged that during April to June, 2018, Yes Bank Limited had invested Rs 3,700 crore in the short term debentures of M/s DHFL, a company belonging to Wadhawan, for which kickback of Rs 600 crore was paid to Rana Kapoor and his family members in the garb of loan.

 

In addition, Yes Bank had also sanctioned a loan of Rs 750 crore to one of the RKW Developers Group company beneficially owned by Kapil Wadhawan, Dheeraj Wadhawan and their family members for their Bandra Reclamation Project in Mumbai but the whole amount was siphoned off by Kapil Wadhawan and Dheeraj Wadhawan through their shell companies and was never used for the declared purpose.

 

The FIR also alleges that Rana Kapoor, then MD and CEO of Yes Bank Limited, obtained illegal gratification in the form of a property in a prime location in New Delhi at much less than the realizable market value, belonging to Avantha Reality Ltd for sanction of a loan to the company.