Lagatar24 Desk
New Delhi, Aug 3: The Enforcement Directorate on Wednesday attached assets totaling Rs 415 crore from Sanjay Chhabria, Avinash Bhosale in India’s worst bank fraud case, days after an AgustaWestland helicopter was taken from the home of a Maharashtra-based builder suspected of money laundering and fraud.
In the Yes Bank-DHFL (Dewan Housing Finance Limited) case, which involved a group of 17 banks led by Union Bank of India and allegedly resulted in an alleged loss of more than 34,000 crores, Sanjay Chhabria of Radius Developers and Avinash Bhosale of ABIL Infrastructure were earlier detained.
Last Monday, CBI (Central Bureau of Investigation) agents discovered the helicopter at the Pune home of Avinash Bhosale.
A land parcel in Mumbai’s Santacruz neighbourhood was worth 116.5 crores, 25 percent of Chhabria’s company’s equity shares held in a land parcel in Bengaluru worth 115 crores, another apartment in Santacruz worth 3 crores, profit from Chhabria’s hotel at the Delhi airport worth 13.67 crores, and three of Sanjay Chhabria’s high-end luxury cars worth 3.10 crore were all seized today, the agency said.
Under the guidelines of the Prevention of Money Laundering Act of 2002 (PMLA), ED filed two provisional attachment orders against the pair. The total now stands at 1,827 crores, according to the enforcement department, with this most recent attachment.
ED has provisionally attached assets worth Rs 251 crores of Sanjay Chhabria and assets worth Rs 164 crores of Avinash Bhosale, in Yes Bank- DHFL fraud case under PMLA, 2002. Total attachment in the case stands at Rs 1,827 crores: Enforcement Directorate pic.twitter.com/QReDUOnw87
— ANI (@ANI) August 3, 2022
Based on a 1988 FIR that claimed Kapoor had “entered into a criminal conspiracy” with Kapil Wadhawan and others to provide financial assistance to DHFL through Yes Bank in exchange for kickbacks to himself and his family members through the companies held by them, the investigation agency is looking into Yes Bank co-founder Rana Kapoor and DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan.
According to the ED, Rana Kapoor persuaded Yes Bank to invest 3,700 crores in short-term non-convertible DHFL debentures and 283 crores in DHFL Masala Bonds. At the same time, Kapil Wadhawan’s DHFL company gave one of Rana Kapoor’s businesses a 600 crore rupee bribe disguised as a loan.
During additional searches in the case last week, the CBI reportedly discovered paintings and watches worth several crores.
According to the inquiry agency, items costing several crores were bought with money that had been improperly transferred. Sanjay Chhabria and Avinash Bhosale were also detained by the ED in June; both are currently in judicial prison.
