The Enforcement Directorate is gearing up to attach more properties in connection with the Yes Bank case. Assets worth about ₹3,000 crore, linked to the accused persons and companies involved in money-laundering, have already been attached.
The agency has zeroed in on several properties located overseas, which are yet to be attached under the Prevention of Money Laundering Act. They were acquired by those involved in the case, either directly or through various entities, using the “proceeds of crime”.
The assets earlier attached by the ED were linked to Yes Bank co-founder Rana Kapoor, Kapil Wadhawan, Dheeraj Wadhawan and the entities allegedly controlled by them.
They included a residential building ‘Khursidabad’ in the Cumbala Hill, three duplex flats along the Napean Sea Road, one flat at the Nariman Point and eight flats at Worli in Mumbai, besides a bungalow at the 40-Amrita Shergill Marg in Lutyens’ Delhi, 12 flats at Khar (West) in Mumbai, one in New York and two more in London.
Two land parcels in Pune and Mulshi, a commercial property in Australia, five luxury vehicles and 344 bank accounts were also attached.
Two cases
The ED is conducting the probe on the basis of two cases registered by the CBI in March. The first case alleged that during April-June 2018, they invested ₹3,700 crore in the Dewan Housing Finance Corporation Limited (DHFL), in lieu of a kickback of ₹600 crore in the form of loan to DOIT Urban Ventures (India), which belonged to Mr. Kapoor’s family members.
In the second case, it was alleged Mr. Kapoor — as the MD and CEO of Yes Bank — had received illegal gratification in the form of the Delhi property for credit facilities for the Avantha group entities.
The ED, which is also probing the role of the Cox & Kings group, has so far filed two chargesheets in connection with the Yes Bank case.
