12/21/2023 0 Comments Yes moneymoney. comIt claimed that the loans given to the firm owned by Kapoor's family were to camouflage the entire act. On the other hand, DHFL obliged Rana Kapoor by giving the so called loan of ₹600 crore to his beneficially-owned company, namely DUVPL, without adequate collateral, the agency said. The probe also revealed that Yes Bank had used public money for the purchase of the above-said short-term debentures of DHFL, which has not yet been redeemed by DHFL. Subsequently, DHFL gave a loan of ₹600 crore to DOIT Urban Ventures Pvt Ltd (an entity, beneficially owned by Rana Kapoor and his family). Therefore, the amount was transferred to DHFL. ![]() The ED said investigation has revealed that Yes Bank had bought debentures worth ₹3,700 crore between April 2018 and June 2018 from DHFL. "Rana Kapoor, DHFL promoters Kapil Wadhawan, Dheeraj Wadhawan and others were involved in criminal conspiracy with each other in illegal diversion and siphoning off of funds through suspicious transaction of ₹5,050 crore," the central probe agency claimed in its fresh prosecution complaint (charge sheet) filed recently. ![]() The ED said this in its second supplementary (third overall) charge sheet filed in special court here recently against Rana Kapoor, his family, Wadhawans and others in a money laundering case.ĭuring the investigation, it came to light that a big part of the proceeds of crime (POC) generated in this case has been siphoned off overseas by Rana Kapoor and hence they are not available for attachment directly under the provisions of Prevention of Money Laundering Act (PMLA), it said. The Enforcement Directorate (ED) has alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan siphoned off funds worth ₹5,050 crore through suspicious transactions.
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