Mumbai, Aug 14 : The Enforcement Directorate (ED), probing the alleged Rs 3,700 crore Yes Bank fraud case, claims that Varun Manmohan Kapur, the bank's then President, Financial and Investment Strategy, also used to handle the work of other companies of the bank's founder Rana Kapoor and his family members.
The revelation figures in the ED's supplementary charge sheet filed in a PMLA court in Mumbai on July 13, naming 11 other accused in the matter, official sources said.
The ED said that Kapur, in his statement to the financial probe agency in June, said that he used to report to the private lender's then MD and CEO Rana Kapoor, and went on to claim that Kapur was also handling the affairs of the DOIT Creation (I) Pvt Ltd. (DCPL), a company owned by the Kapoor family.
Asked about his roles and responsibilities in the DCPL, Kapur said he was appointed its CEO in 2018 and the firm was a 100 per cent subsidiary of Morgan Credits Pvt Ltd (MCPL), owned by Rana Kapoor's three daughters -- Radha, Roshni and Rekha. The three were also owners of thee DCPL.
The ED also said that Kapur had told them that Rana Kapoor's daughters had very limited capacity to the day-to-day affairs of the DCPL.
"From 2016-18 on the directions of Rana Kapoor, Kapur was also made to evaluate the investment opportunities in DCPL and its group companies -- DOIT Creation (I) PVt Ltd, DOIT Creative Consumer Ventures (India) Pvt Ltd, DOIT Urban Venture (India) Pvt Ltd, RAVI etc.
The 100-page supplementary charge sheet has been filed against 19 persons or entities, including eight named in the previous charge sheet, filed before the special court under the Prevention of Money Laundering Act (PMLA).
Among the accused are Dewan Housing Finance Ltd's (DFHL) CMD Kapil Wadhawan, his brother and DHFL's Non-Executive Director Dhiraj Wadhawan, Rana Kapoor, his wife Bindu, their daughters, and chartered accountant Dhulresh Jain.
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 Pvt Ltd and Valencia Developers.
The ED had registered a case of money laundering on March 7 this year based on the Central Bureau of Investigation FIR registered the same day against 12 people, including Kapoor, his wife and daughters, the Wadhawan brothers and five firms.
The Wadhawans were arrested by the CBI from Mahabaleshwar hill station in Maharashtra on April 26 and the ED also arrested them in May.
The ED on July 9 attached Rs 2,203 crore assets, comprising 344 bank accounts, investments and high-end vehicles in India, New York and Australia, of Kapoor and his family, the Wadhawans and others under the PMLA in the Rs 3,700 crore fraud case.
(Anand Singh can be contacted at email@example.com)