Tagged: Rana Kapoor

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Rana Kapoor Has Properties Worth Rs. 1,000 Crore In Delhi

The Enforcement Directorate (ED) prevented the Yes Bank founder Rana Kapoor from selling three Delhi properties worth Rs. 1,000 crore. He was about to shift his base outside the country.

According to sources, ED was tipped off about Rana Kapoor planning to shift to the US, the UK or France after selling his properties in Delhi and Mumbai. He didn’t want to leave any asset in India before leaving.

Rana Kapoor’s properties

The properties at 40, Amrita Shergill Marg, 18 Kautilya Marg in Chanakya Puri and the Diplomatic Enclave on Sardar Patel Marg are linked to Bindu Kapoor wife of Rana Kapoor. Bindu Kapoor is also under the scanner over suspicious transactions by former Yes Bank boss. The officials said that Rana Kapoor was in touch with top realtors in capital to sell the properties.

The luxurious bunglow at 40, Amrita Shergill Marg, a prime location in Lutyens’ Delhi was bought in the name of her company Bliss Abode Ltd. while the other two properties belong to Bliss Villa (Delhi) Private Ltd.

The Amrita Shegillbunglow was bought from Avantha Realty. The company belonged to … Read the rest

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Daughter Of Yes Bank Founder Arrested At Mumbai Airport

Roshni Kapoor, daughter of Yes Bank founder Rana Kapoor, was apprehended at the Mumbai airport while she’s boarding a flight to London. The Enforcement Directorate (ED) has already issued a lookout notice against her and other family members of Rana Kapoor.

Rana Kapoor arrested

On Sunday, the Yes Bank founder was arrested and sent to the custody of ED till March 11 by a Mumbai court. He was arrested on the charges of money laundering after hours of investigation and searches at the residents of his daughters – Roshni Kapoor, Rakhee Kapoor Tandon, and Radha Kapoor – inDelhi and Mumbai.

Allegations on Rana Kapoor

In the court, the ED lawyer Sunil Gonsalves alleged that Yes Bank had bought debentures of Dewan Housing and Finance Ltd. worth Rs. 3,700 crore. Dewan Housing had granted a loan of Rs. 600 crore to Doit, a company owned by daughters of Rana Kapoor.

The lawyer further alleged that crime of Yes Bank was amounted to Rs. 4,300 crore. Also, that Rana Kapoor had refused to cooperate with the investigation.

Rana Kapoor denied allegations

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Rana-Kapoor

Lookout Noticed Issued Against Yes Bank Founder Rana Kapoor

On Friday, Enforcement Directorate searched the Mumbai house of Yes bank founder Rana Kapoor. Also, the agency launched a money laundering probe against him. Fearing that Mr. Kapoor and other former directors of the bank could leave the country, the agency issued a lookout notice against them.

Restructuring Yes bank management

The Reserve Bank of India took over board of the bank for 30 days to restructure its finances. Also, it put a cap of Rs. 50,000 on withdrawal for Yes bank customers. The finance ministry said in its notification that the withdrawal cap will remain effective till April 3. RBI has appointed former SBI CFO Prashant Kumar as administrator of the beleaguered Yes Bank.

Union Finance Minister listed malpractices

Nirmala Sitharaman said that malpractices by top leadership of the bank were among the top reasons for centre’s decision to restructure the management of the bank. Ms. Sitharaman, in a press conference, said that RBI had been monitoring Yes bank since 2017.

The RBI noticed serious governance issues with Yes bank. There was a culture of weak compliance. Also, there were wrong asset classifications together with risky credit decisions. Ms. … Read the rest