Enforcement Directorate (ED) has filed a charge sheet against Rana Kapoor in connection with the YES Bank fraud case. The charge sheet filed at the PMLA Court in Mumbai includes names of the YES Bank co-founder, his wife Bindu Kapoor, his daughters Roshni Kapoor, Radha Kapoor and Rakhee Kapoor, along with Morgan Credits, Yes Capital and Rab Enterprises.
Kapoor, former MD and CEO of YES Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He has been accused of receiving kickbacks in lieu of sanctioning loans to certain firms.
The central investigation agency has pegged the proceeds of crime at Rs 5,050 crore and placed 168 accounts under scrutiny. The ED has also provisionally attached 59 paintings, including a painting of Rajiv Gandhi by MF Hussain, which Kapoor bought from Priyanka Gandhi for Rs 2 crore.
ED had alleged that YES Bank had bought debentures worth Rs 3,700 crore from the scam-hit Dewan Housing Finance Limited (DHFL), after which DHFL sanctioned a loan of Rs 600 crore to DoIT Urban Ventures, a company controlled by Kapoor's daughters through Morgan Credits. DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan were arrested by the Central Bureau of Investigation on April 27.
Three days before Kapoor's arrest, on March 5, Reserve Bank of India had seized YES Bank as the private lender failed to raise funds to stay afloat. Under a reconstruction scheme, the central bank got several financial institutions, including SBI, ICICI Bank and HDFC, to save the private lender.