Yes Bank fraud: ED files supplementary charge sheet

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SME Times News Bureau | 13 Jul, 2020
Five days after it attached properties worth Rs 2,203 crore in the Yes Bank fraud case, the Enforcement Directorate filed a supplementary charge sheet before a special court in Mumbai, naming 11 other accused in the matter, official sources said on Monday.

The over 100 page charge sheet has been filed against 19 persons or entities, including 8 named in the previous charge sheet, filed before the Special Court under the Prevention of Money Laundering Act.

Among the accused are: Kapil Wadhawan, Promoter of Diwan Housing Finance Ltd, Dhiraj Wadhawan, DHFL's non-executive director, Yes Bank's former MD & CEO Rana Kapoor, his wife Bindu, their daughters Radha, Rekha and Roshni, and chartered accountant Dhulresh Jain.

Besides, the entities named are the Kapoors' family concern, DHFL, Yes Capital Pvt Ltd, DoIt Urban Ventures Pvt Ltd, Rab Ventures, Kyta Advisors Ltd, RKW Developers, Morgan Credit Pvt Ltd, Belief Realty, Golden Western Ltd, Samapti Trading Pv Ltd. and Valencia Developers.

The development came barely 5 days after the ED attached all the assets, around 344 bank accounts, investments and high-end vehicles in India, New York and Australia belonging to the Kapoors and Wadhawans, collectively worth Rs 2,203 crore.

Contending that the proceeds of crime amount to around Rs 5,000-plus crore besides the value of the attachments last week, the ED has said that an amount of Rs 600 crore was allegedly given as a kickback to companies owned by Kapoor's daughters in return for loans sanctioned by Yes Bank to some companies.

The Wadhawan brothers were arrested by the CBI - which is also probing the case - from Mahabaleshwar hill station in Maharashtra on April 26 and later the ED also nabbed them in May.