Yes Bank's Rana Kapoor's London-based flat worth Rs 15 crore was seized

(PTI) New delhi date. 25

The Enforcement Directorate (ED) has seized a Rs 12 crore flat in London from Yes Bank co-promoter Rana Kapoor. The ED has taken this action in connection with the money laundering probe against Rana Kapoor and others.

The agency issued a provisional order to seize an apartment on South Audley Street in London under the Prevention of Money Laundering Act (PMLA).

The ED said in a statement that the market value of the flat is ૩૫ 1.8 crore, or Rs 18 crore. Rana Kapoor bought the property in 2012 for ૯૯ 3 lakh, or Rs 3 crore. The property was purchased in the name of DOIT Creations Jersey Limited.

The agency had received information from reliable sources that Rana Kapoor was trying to sell the property and for this he had also enlisted the help of a reputed property consultant. Advertisements for the sale of the property were also placed on several websites.

The Indian Investigation Agency will now contact its British counterpart and submit an arrest warrant. This property cannot be sold thereafter.

The ED had earlier also seized assets in the US, Dubai and Australia under the PMLA. The ED had filed a case under the PMLA against Rana Kapoor and his family members on the basis of a CBI FIR.

The CBI FIR alleges that Rana Kapoor illegally took loans and gave loans to some companies. According to the CBI FIR, Yes Bank had invested Rs 500 crore in DHFL's short-term debentures between April and June 2016.

At the same time, DHFL's Kapil Wadhwan was given a bribe of Rs 200 crore. The bribe was given in the form of a loan. The loan was given by DHFLA to Rana Kapoor Group company DOIT Urban Ventures (India) Pvt. Ltd. In addition, Yes Bank had given a loan of Rs 50 crore to RKW Developers, a DHFL group company. The ED has arrested Rana Kapoor, Kapil Wadhwan and Dheeraj Wadhwan in the case and they are currently in judicial custody. In this case, assets worth Rs 2011 crore have been seized so far.