Before Yes Bank founder Rana Kapoor could shift his base from India to any foreign country, the Enforcement Directorate (ED) took him in its custody and his plan to sell his three Delhi-based properties amounting over ₹1,000 crore failed.
The three properties — 40, Amrita Shergill Marg; 18 Kautilya Marg, Chanakya Puri; and in the Diplomatic Enclave on Sardar Patel Marg — are not directly linked to Kapoor but officials said that he had tasked some top property dealers here for hunting some buyers to sell these assets to.
It is learnt that all the properties are linked to Kapoor's wife Bindu Kapoor, who is also under the scanner as ED probes suspicious transactions of around ₹4,300 crore.
Bindu Kapoor bought a luxurious bunglow at 40, Amrita Shergill Marg — a prime location in Lutyens' Delhi — in the name of her company Bliss Abode Ltd while the other two properties belong to Bliss Villa (Delhi) Private Ltd.
Known for a flamboyant lifestyle and penchant for publicity, Kapoor, sources said, wanted to shift his base in the US, the UK or France by selling properties in Delhi and Mumbai soon after he got tip off about ED's investigation against him.
It is suspected that he did not want to leave any of his property in India before shifting his base, said the source, adding the ED has began probing his three prime properties in Delhi which have a value of more than ₹1,000 crore.
The source said that the property at Amrita Shergill Marg was bought from Avantha Realty, Gautam Thapar's company which had borrowed money from Yes Bank.
According to sources, Kapoor's wife had bought this property in the name of her company Bliss Abode Ltd on account of a loan default by Avantha Realty. Yes Bank's exposure to Avantha Realty was ₹500 crore.
Bliss Abode Pvt Ltd had bought this property by raising ₹380 crore from a Mumbai- based non-banking financial company. The address of Bliss Abode is also the same as the property bought.
Yes Bank allegedly, instead of going for a procedure under the RBI's suggested guidelines to recover the loan, sold the property for a bare minimum price of ₹380 crore to Bliss Abode Pvt Ltd.
Amrita Shergill Marg is one of the most prime areas of Delhi and sources said that the property was priced at around ₹450 crore.
The Chanakya Puri property is in the name of Bliss Villa (Delhi) Pvt Ltd which was incorporated on September 9, 1971. It is classified as non-government company and is registered at the Registrar of Companies, Delhi. Its authorised share capital is ₹20,000,000 and its paid up capital is Rs. 18,374,800. The Directors of Bliss Villa (delhi) Private Limited are Bindu Kapoor, and Ajita Madhukar Potdar.
The third property in Diplomatic Enclave on Sardar Patel Marg is also a prime property linked to Rana but more information about the property could not be gathered.
It is learnt that the selling price of the Chanakya Puri and Sardar Patel property was fixed ₹350 crore and ₹250 crore, respectively.
The ED not only have started its probe into these three Delhi-based properties but also another property in Mumbai which was bought by Rana's family on tony Altamount Road in Mumbai in 2018 for ₹128 crore.
Jointly owned by Citibank and GlaxoSmithKline, the property is next to Mukesh Ambani's 27-storey Antilla.
The ED as well as the CBI have registered separate cases against Rana Kapoor, his wife, their three daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor, and Dewan Housing Finance Ltd (DHFL) promoter Kapil Wadhwan for hatching a criminal conspiracy from April to June 2018 between for extending financial assistance to DHFL by Yes Bank Ltd. For this, the Kapoors were paid kickbacks of ₹600 crore.
Kapoor was arrested by the ED on Sunday after hours-long questioning in Mumbai and was been sent by a Mumbai court in the agency's custody till March 11.