Yes Bank case: ED attaches properties of Rana Kapoor, Kapil & Dhiraj Wadhawan worth crores

In a major development in the Yes Bank case, sources report that the Enforcement Directorate on Thursday, has attached properties of DHFL promoters - Kapil and Dheeraj Wadhawan worth Rs 1400 crores. The attached properties include 12 apartments and land in Pune, properties in Australia, New York and London, as per sources. Both brothers have been refused anticipatory bail by the Supreme Court in the Yes Bank money laundering case filed by ED against them.

Yes Bank Case: Supreme Court rejects anticipatory bail plea of Kapil & Dheeraj Wadhawan

Rana Kapoor's properties attached

Moreover, sources report that Yes Bank founder Rana Kapoor's properties worth Rs 1200 crore have been attached. These include -  six flats at the Malabar Hill and  Delhi property at the Amrita Shergil Marg. ED has already filed a charge sheet against Kapoor - accusing  Kapoor, his wife Bindu Kapoor, daughters Roshni, Radha, and Rakhee Kapoor of money laundering and personal gratification in lieu of loans to big borrowers. As per the chargesheet, the proceeds of crime have been pegged at Rs.5,050 crore out of which Rs.600 crore has been traced back to a company directly owned by the Kapoor family.

Yes Bank Case: CBI court extends judicial custody of Kapil & Dheeraj Wadhawan till May 13

Wadhawans arrested

The Wadhawans are in jail after being earlier arrested by the CBI in a separate case related to the Yes Bank scam. They had moved the high court for an anticipatory bail in the money laundering case and another case pertaining to alleged irregularities in the investment of employees' provident fund of Uttar Pradesh Power Corporation Ltd (UPPCL). In April, Kapil and Dheeraj Wadhawan broke lockdown to travel from Mumbai to Mahabaleshwar along with 20 family members after receiving a clean-chit from the Special Principal Secretary of the Maharashtra Home Minister. They were then arrested by the CBI after completing their quarantine period.

ED files chargesheet against Yes Bank founder Rana Kapoor in money laundering case

What is the Yes Bank crisis?

Yes Bank started facing a crisis as it accumulated many bad loans in 2018 by lending to corporate defaulters such as DHFL, Jet Airways, and Cafe Coffee day, among others. Moreover, when RBI refused to extend the term of founder Rana Kapoor as chief executive in 2018, its management was severely hit with his successor Ravneet Gill managing to raise only one round of funds through a share sale to institutional investors. Currently, the CBI and ED have been investigating several investors who had received loans from Rana Kapoor. Meanwhile, Yes Bank has been restructured by the RBI with SBI as a major stakeholder at 48.21%.

Yes Bank to raise up to Rs 15,000 crore through FPO; offer to open on July 15