The Enforcement Directorate (ED) has alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan laundered Rs 5,050 crore through suspicious transactions.
This was stated by the Enforcement Directorate in its second supplementary (third overall) chargesheet filed in a special court here recently against Rana Kapoor, his family, the Wadhawans and others in a money laundering case. The ED said in the chargesheet that during the investigation it came to light that a major part of the income earned through rigging was transferred abroad by Rana Kapoor. which are not directly available for attachment under the Prevention of Money Laundering Act (PMLA).
In the charge sheet, the Enforcement Directorate said that Rana Kapoor, DHFL promoters Kapil Wadhawan and Dhiraj Wadhawan and others were linked to each other in this entire case of misappropriation of Rs 5050 crore. The ED said that during investigation it was revealed that Yes Bank had purchased debentures worth Rs 3,700 crore from DHFL with public money between April 2018 and June 2018. The same amount was transferred to DHFL. Subsequently, DHFL extended a loan of Rs 600 crore to DOIT Urban Ventures Pvt Ltd (an entity owned by Rana Kapoor and his family).