Yes Bank case: ED attaches Rana Kapoor, Wadhawans’ properties worth Rs 2,200 crore

Mukesh Ranjan

Tribune News Service

New Delhi, July 9

The Enforcement Directorate (ED) on Thursday said that it has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) to seize the assets of Rana Kapoor and DHFL’s Wadhawan brothers to the tune of Rs 2,203 crore in the Yes Bank case.

The Central probe agency in a statement said the present market value of these assets is more than Rs 2,800 crore, which include immovable properties in India and abroad, bank accounts, investments, luxury vehicles etc.

These assets belong to Kapoor, Kapil Wadhawan and Dheeraj Wadhawan and the entities controlled by them, the ED said. “The assets belonging to Kapoor and entities connected to him amount to a total of Rs 792 crore (the present market value Rs 1,400 crore) which include an independent residential building “Khursidabad” at Cumbala Hill, three duplex flats on Napean Sea Road, residential flat in NCPA, Nariman Point; eight flats in India Bulls Blue, Worli in Mumbai. Besides these a bungalow at 40, Amrita Sher-Gil Marg, in New Delhi having market value of Rs 685 Crore has also been attached,” it said.

“The attached assets belonging to Wadhawan brothers and related entities are of a total value of Rs 1,411.9 crore which include 12 flats in Khar (West), Mumbai, one flat in New York and two flats in London, two land parcels in Pune and Mulshi, one Commercial property in Australia, five Luxury Vehicles and 344 bank accounts,” the ED said.

The ED 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). Kapoor was arrested by the agency in March and he is at present in judicial custody. Wadhawan are also in judicial custody in connection with the case.  

Earlier, the agency had attached bank deposits to the tune of Rs 115 crore of various companies owned by Kapoor and seized jewellery worth Rs 22.87 crore and seven high-end luxury cars worth Rs 12.58 crore belonging to the Wadhawan family.