Investigation by the Enforcement Directorate (ED) on Sunday revealed that former CEO of Yes Bank Rana Kapoor, invested in properties worth over Rs 2000 crore, sources said. The development came after the ED questioned Rana Kapoor, who was later sent to its custody till March 11.
Sources said all of these properties are located in India. The financial probe agency suspects that the kickback money was invested in the properties allegedly by Rana Kapoor. According to probe agency sources, properties in the UK have also been identified and an evaluation process is underway.
The ED suspects that the firms linked to family members of Rana Kapoor were used to receive kickbacks and facilitating in laundering of money.
Family members of Rana Kapoor are allegedly involved with multiple firms. Sources said Bindu Kapoor, wife of Rana Kapoor, is currently director in 18 companies, whereas daughters Roshni Kapoor and Radha Kapoor are directors in over 20 companies. The ED has also examined Radha Kapoor, Roshni Kapoor and husband of Radha, Aditya Khanna, in connection with the firms they are linked with.
Probe agency also found that most of these companies have same the set of directors and these firms have either no employees or very few. The firms linked to family members of Rana Kapoor hardly did any business but time to time received huge loans, a source said.
