Mumbai: Rana Kapoor, founder and former chairman of Yes Bank, arrested by ED on charges of money laundering, has been sent to ED remand by the PMLA (Prevention of Money Laundering) court till 16 March. During the hearing in PMLA court, the Enforcement Directorate has made a big disclosure on the breakup of Rana Kapoor.
The Enforcement Directorate told the court that when Rana Kapoor was the chairman of the bank, he had passed a loan of 30 thousand crores. Out of this, 20 thousand crore NPA (Non Performance Asset) has been declared so far. In the names of Rana and his family members have 78 companies. The ED has to check whether the Kapoor family companies are involved in the loan which has been NPA.
The ED suspects that most of the companies with NPA belong to the family of Rana Kapoor. Where are the remaining 10 thousand crores given by Yes Bank? The ED alleges that Rana Kapoor got a kickback in exchange for the loan passed by Yes Bank. The company of Rana Kapoor’s daughters and wife have been benefited.
Rana invested money in the real state instead of what Rana Kapoor earned from the breakup of the loan. Bought property abroad in addition to India. According to ED sources, Rana Kapoor bought hotels in New York and London with black money. Bought two apartments in London and also bought two properties in Delhi. The most important is that the same type of pattern has been seen in the buying and selling of these properties, which the ED is investigating.
According to ED sources, “Yes Bank used to auction the mortgaged assets after the declaration of NPA of any company. Rana Kapoor’s family used to buy the property being auctioned at a lower price. The loan taken by the Kapoor family to buy these properties sold at auction was taken from that NBFC and loan was given to that NBFC by Yes Bank. Two properties bought in Delhi have been bought on this pattern. ”According to ED sources, 78 companies of Rana Kapoor’s family were used in the breakup of this loan and black money was made.
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