Mumbai, March 9 (IANS) The Enforcement Directorate (ED), probing the money laundering case against Yes Bank founder Rana Kapoor, is also looking at investments made by his three daughters — Radha Kapoor Khanna, Roshini Kapoor and Rakhee Kapoor Tandon.
The ED has registered a money laundering case against the Yes Bank founder, his wife Bindu Rana Kapoor (then director of RAB Enterprises), and daughters Roshini Kapoor (director of Morgan Credits and DOIT Urban Ventures), Rakhee Kapoor (director of Morgan Credits) and Radha Kapoor (director of Morgan Credits and DOIT Urban Ventures.
DHFL promoter and director Kapil Wadhwan and Dheeraj Rajesh Kumar Wadhawan (director of RKW Developers) have also been named in the case along with some unidentified persons.
A senior ED official linked to the probe told IANS, “We are trying to identify the properties bought from the money received as kickbacks.”
Once the properties were identified, the ED would attach them under the Prevention of Money Laundering Act (PMLA), the official said and added, the agency was also analysing properties owned by Kapoor abroad.
The ED would write to the authorities concerned to get their documents, the official said and added, once the properties were identified we would check the mode of payment — whether bought through hawala transaction or routed through someone else.
On Sunday, the ED had alleged Kapoor and his daughters set up over 20 shell companies to receive kickbacks and invest that in properties. The shell companies received kickbacks from the corporate entities, who were customers of Yes Bank and had taken loans from it, the ED sources said.
The ED recovered documents that showed some assets of the Kapoor family in London, he said and added, the source of funds for the acquisition was being probed. According to the ED source, DHFL owned Rs 3,700 crore loan to Yes Bank and transferred Rs 600 crore fund to the Kapoor family as part of the quid pro quo. “We suspect the Rs 600 crore payment to the Kapoor family to be kickbacks,” he said.
Kapoor was arrested on Sunday after questioned for several hours since Friday night, days after the Yes Bank crisis broke out.
According to the ED officials, DHFL paid the kickbacks to DOIT Urban Ventures — a wholly owned subsidiary of RAB Enterprises in which Kapoor’s wife Bindu Kapoor is a director and 100 per cent shareholder. Kapoor’s daughters are also 100 per cent shareholders of DOIT Urban Ventures through Morgan Credits.
The official said the ED was also probing 99 acres land acquired by the family.
On Sunday, Roshini Kapoor was stopped by the immigration authorities from taking a Mumbai-London flight as a look-out circular had been issued against the Kapoor family members by the agency.
The ED started the probe last Friday on the basis of a first information report (FIR) filed by the Central Bureau of Investigation (CBI), alleging that Kapoor entered into a criminal conspiracy with DHFL promoters and others for extending financial assistance in lieu of undue benefits to himself and his family through the companies held by them.
(Anand Singh can be contaxcted at [email protected])