Yes Bank News: ED scanner on large loans issued by Yes Bank, Rana Kapoor’s foreign assets | India Business News
They said the agency has expanded its investigation into the case beyond the loan to DHFL (Dewan Housing Finance Limited) and is now looking in its books to find evidence of whether the Kapoor family and other alleged bribes were received from commercial houses instead of no start of loan recovery processes.
The central agency is investigating the DHFL scam that provides a loan of Rs 600 million to a company “controlled” by the Kapoor family, which includes his wife and three daughters, rather than recovering more than Rs 4 billion from loans issued by Yes Bank at the first
Sources said Yes Bank CEO Ravneet Gill was questioned by ED at his office in Mumbai on Monday.
They added that investigators have also concentrated on Kapoor’s alleged foreign assets in the United Kingdom, France and the United States to see if the banker and his family used the proceeds of the money laundering offense.
A dozen suspected shell companies, the Kapoor family’s investments of Rs 2 billion and more than Rs 4.5 billion of transactions are under the agency’s scanner today.
The agency also discovered that 44 expensive paintings were in Kapoor’s possession, one of which was purchased by him from congressional leader Priyanka Gandhi Vadra.
While the Congress party has said the deal was transparent as Vadra received the payment of Rs 2 crore from Kapoor via check and was reflected in the tax returns, the ED is investigating whether the painting was owned her or the All India Congress Committee (AICC)
He is also investigating whether the certificate of origin (signed by an artist to declare his work genuine) was signed by Vadra and under what circumstances.
The painting, a portrait of former Prime Minister Rajiv Gandhi, was made by famed artist M F Hussain and was presented to Gandhi during the AICC Centennial Celebrations in 1985.
Congress rejected the charge as false, saying there was no illegality in the transaction since the general secretary of the party had received the money (Rs 2 crore) under control and mentioned it in his income tax returns in 2010.
The Execution Directorate has said that this case against Rana involves proceeds from the crime of Rs 4.3 billion rupees.
The former CEO and general manager of the bank, 62, was arrested on Sunday and is in the custody of the DE until March 11.