The Enforcement Directorate (ED) on Wednesday questioned Bindu Kapoor, wife of YES Bank founder Rana Kapoor, in realtion to the YES Bank case. Bindu Kapoor has been named as one of the accused in the case by the ED and the Central Bureau of Investigation (CBI) along with Rana Kapoor, their three daughters and their three companies.
Bindu Kapoor arrived at the Mumbai ED office located at Ballard Estate at around 11:30 am and was questioned for around three hours regarding funds worth around Rs 87 crore received by Rab Enterprises, a company owned by her. The funds were reportedly transferred to Rab Enterprises by Rana Kapoor from the Rs 600 crore loan received by a family-owned company from DHFL. The ED and CBI are probing alleged kickbacks received by Rana Kapoor for loans sanctioned by YES Bank to various borrowers which later turned into NPAs.
Sources said the agency has also found another incriminating transaction reportedly between a company based in Chandigarh and a company owned by Bindu Kapoor that is under the scanner.
Two daughters of Rana and Bindu Kapoor, who have also been named as accused in the YES Bank case, have told the ED that they had no knowledge about any quid pro quo or about the source of the initial investment in the companies owned by them.
Last month, the ED filed charge sheet in the YES Bank case and named the lender's founder Rana Kapoor, his wife Bindu Kapoor, and daughters Rakhee, Radha and Roshni as accused along with three companies - Morgan Credit, Yes Capital and Rab Enterprises - owned by them.
The charge sheet, according to sources, alleges that Roshni, Rakhee and Radha Kapoor and their mother Bindu were in cahoots with Rana Kapoor and helped him in laundering the proceeds of crime through the companies owned by them.
Roshni Kapoor, Kapoors' youngest daughter, said in her statement to the ED that she was just 10 years old when Morgan Credit India Private Limited (MCPL) and YES Capital India Private Limited (YCPL) were set up in 2003-2004, sources told India Today. Both companies have been named in the accused list by the ED. Though she did provide details about other companies owned and controlled by her and her sisters, like Morgan Credit (MCPL) and Yes Capital (YCPL).
Statement of Radha Kapoor, the second daughter of Kapoor, is similar to that of her younger sister Roshni. In her statement, Radha Kapoor had stated, "I am not aware of the initial investment in MCPL and YCPL. My father handles all business so he might know about it."
The companies YCPL and MCPL are jointly owned by Rana Kapoor's daughters Radha, Rakhee and Roshni. In MCPL and YCPL, all three have 33.33 per cent share.
Rakhee Kapoor's statement couldn't be recorded as she live outside India. The overseas properties owned by Rakhee are also under the agency's scanner and are suspected to be proceeds of crime.
In its charge sheet, the ED has alleged that three daughters of Rana Kapoor were aware of the source of money and were hand in glove with their father. They had full knowledge and origin of the proceeds of crime and siphoned off money through multiple accounts of their companies, ED said. The ED findings indicate they were active participants in generation of proceeds of crime and were actually abettors in the crime and were involved in the laundering of the proceeds of the crime, a source said.