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<ul><li>Leaving behind 18 year old ties with the Indian National Congress, <keyword id="29632" type="PERSON" weightage="20" keywordseo="Jyotiraditya-Scindia">Jyotiraditya Scindia</keyword> joined the ruling <keyword id="58687" type="ORGANIZATION" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP) on Wednesday (March 11). </li><li>Scindia owns properties worth ₹297 crore — including the ancestral <keyword id="8073664" type="LOCATION" weightage="20" keywordseo="Jai-Vilas-Mahal">Jai Vilas Mahal</keyword> in Gwalior and duplex in <keyword id="136034" type="LOCATION" weightage="20" keywordseo="Samudra-Mahal">Samudra Mahal</keyword>, Mumbai. </li><li>Built in 1874, the palace was valued at ₹1 crore back then — and costs over ₹4,000 crore today. </li><li>The Scindia family own two properties in Samudra Mahal, one of which is rented out to the <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>. The two highrises of 27-storeys each are valued at ₹125,000 per square feet.</li></ul>Leaving behind 18 year old ties with the Indian National Congress, Jyotiraditya Scindia joined the ruling Bharatiya Janata Party (BJP) on Wednesday (March 11). His resignation turned out to be a turbulence in the Congress government — triggering resignations from 22 other MLAs in Madhya Pradesh. 
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 Scindia who hails from a family of royals is not a stranger to riches. He owns properties worth ₹297 crore — including the ancestral Jai Vilas Mahal in Gwalior and duplex in Samudra Mahal, Mumbai. The Jai Vilas Palace, which was built by the last maharaja of <keyword id="4447396" type="LOCATION" weightage="20" keywordseo="gwalior-jivajirao-scindia">Gwalior Jivajirao Scindia</keyword> spans across 40 acres. The mahal has over 400 rooms and a museum wing as well. 
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 Built in 1874, the palace was valued at ₹1 crore back then — and costs over ₹4,000 crore today. The mahal has a dining room fitted with a train track on the table, which serves brandy and cigars in a silver train. In fact, the Darbar Hall, which is the main attraction of the Palace, has two chandeliers weighing 3,500 kgs each — making it the largest in the world. 
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 The two chandeliers lighten up the hall with over 250 bulbs. It is also said that eight elephants were suspended from the roof embellished with gold to check if it was capable of bearing the weight of these chandeliers. <div type="image" title="darbar hall" msid="74604172" hostid="261"></div>

 But, that is not all. The Scindia family own two properties in Samudra Mahal in Mumbai including a terrace flat, one of which was rented out to the Yes Bank founder Rana Kapoor. The two highrises of 27-storeys each are valued at ₹125,000 per square feet — among the highest in the world and offering all possible luxuries. 
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 Because of its unique design, each of the duplex offers an eyeful of the vast Arabian Sea outside. Other residents of the posh complex include Akshata Narayan of Infosys, Nandan Nilekani, Vedanta Group head Prateek Agarwal, Motilal Oswal Group's joint-MD Raamdeo Agrawal, The Xander Group founder-chairman Siddharth Yog, Famous Studios chief A K Roongta. Scindia’s family has been into politics ever since his grandmother, Vijayaraje Scindia joined politics in 1957 — winning a seat from the <keyword id="1571" type="COMPANY" weightage="20" keywordseo="Congress-party">Congress Party</keyword>. See also: <a href="https://www.businessinsider.in/india/news/jyotiraditya-scindia-joining-bjp-news-and-updates/articleshow/74572946.cms">Jyotiraditya Scindia joins BJP and says his dreams were shattered in Congress</a>

BJP's Jyotiraditya Scindia’s palaces, museums and posh complexes have a royal history

Mumbai, Mar 7 () The Enforcement Directorate on Saturday continued questioning Yes Bank founder Rana Kapoor in connection with a money laundering probe against him and others, officials said. They said Kapoor was brought to the agency's office in the Ballard Estate area Saturday afternoon. The ED had searched Rana's residence in the upscale 'Samudra Mahal' complex in the Worli area on Friday night and had grilled him there too. The questioning of Kapoor is continuing, they said. The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned non-performing assets (NPAs), they said. Action against Kapoor is being conducted under the Prevention of Money Laundering Act (PMLA) by the ED. The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts. Other alleged irregularities are also under the agency's scanner, including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added. The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL). The ED action came after the Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseded the board of the private sector lender with immediate effect. Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment. As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. NES SMNSMN

ED continues questioning Yes Bank founder Rana Kapoor

Mumbai, Mar 7 () The Enforcement Directorate questioned Yes Bank founder Rana Kapoor for the second day on Saturday in connection with a money laundering probe against him and others and raided some more locations in Delhi and Mumbai, officials said.They said Kapoor was brought to the agency's office in Ballard Estate area after noon.He has been questioned for over seven hours and his statement recorded by the agency under the Prevention of Money Laundering Act (PMLA), the officials said.The premises of Kapoor's three daughters in Delhi and Mumbai were also searched on Saturday to gather more information and evidence, they added.The ED had searched Rana's residence in the upscale 'Samudra Mahal' building in the Worli area on Friday night and grilled him there too.The questioning of Kapoor is continuing, the officials said.The case against Kapoor is linked to the scam-hit Dewan Housing Finance Corporation (DHFL) as the loans given by the bank to the company allegedly turned non-performing assets (NPAs), they said.A Rs 600-crore worth loan extended by the DHFL to an entity is also at the centre of the ED probe, they added.Action against Kapoor is being conducted under the PMLA.According to the officials, the central agency is also probing the Yes Bank founder's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts.Other alleged irregularities are also under the agency's scanner, including the one related to the alleged Employees' Provident Fund (EPF) fraud in Uttar Pradesh Power Corporation Limited (UPPCL), they said.The CBI recently took over the investigation into the Rs 2,267-crore EPF fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in DHFL.The ED action came after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. NES DIVDIV

ED questions Yes Bank founder Rana Kapoor for second day; expands raids

<ul><li><keyword id="8883506" type="UNKNOWN" weightage="20" keywordseo="yes-bank-founder-rana-kapoor">Yes Bank founder Rana Kapoor</keyword> was arrested by the Enforcement Directorate (ED) early today, March 8.</li><li>He has been arrested under the provision of the <keyword id="6355007" type="UNKNOWN" weightage="20" keywordseo="Prevention-of-Money-Laundering-Act">Prevention of Money Laundering Act</keyword> (PMLA).</li><li>Authorities claim he was not cooperating with the probe.</li></ul> The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money laundering charges here in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said. Kapoor's arrest at the ED office in Ballard Estate followed over 20 hours of questioning by the central agency after it raided his residence on Friday night. The arrest comes after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs. Officials said Kapoor, 62, will be produced before a local court during the day to obtain custody. The investigating officer of the case had recorded Kapoor's statement under the PMLA when he was first interrogated on Friday night at his upscale residence in 'Samudra Mahal' complex in Worli area here. He was brought to the ED office on Saturday noon for a fresh round of questioning. On Saturday, the agency widened its probe in the case as the premises of Kapoor's three daughters in Delhi and Mumbai were searched to gather more information and evidence. According to officials, Kapoor's wife Bindu and daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor -- are allegedly linked to some companies to which the suspected "proceeds of crime" have been traced. The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned NPAs, they said. A Rs 600 crore worth loan extended by the DHFL to an entity is also at the centre of the ED probe, officials said. The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts. Other alleged irregularities are also under the agency's scanner including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added. The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL). The ED action came after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect. Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment. As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. PTI NES AD 03080721 NNNN

Yes Bank founder Rana Kapoor arrested by ED on charges of money laundering

(Eds: Adds details of searches; look out circular) New Delhi, Mar 9 () The CBI carried out searches at seven locations in Mumbai on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to its co-founder Rana Kapoor's family by scam-hit DHFL and issued a look out circular against the accused to prevent their escape, officials said.The CBI has named five companies and seven individuals including Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha as accused in its FIR.Dewan Housing Finance Corporation Limited (DHFL) and RKW Developers Private Limited and their then directors Kapil Wadhawan and Dheeraj Wadhawan, respectively also figure as accused in the FIR.DoIt Urban Ventures controlled by the Kapoor family, RAB Enterprises (lndia) Private Limited in which Bindu Rana Kapoor was director and Morgan Credits Private Ltd in which Rana Kapoor's daughters were directors are also named as accused.While 10 teams of the agency were involved in the search operation spread across swanky south Mumbai neighbourhood, the agency issued Look Out Circular against all the seven accused --Kapoors and Wadhawans -- named in the FIR.A look out circular (LOC) alerts immigration staff at all the ports of entry and exit to prevent the accused from moving out of the country.The Enforcement Directorate (ED), which arrested Kapoor, had already got LOC issued on the basis of which Roshini was stopped for leaving for London at the Chhatrapati Shivaji Maharaj International Airport, Mumbai. The searches took place at the lavish apartment of Kapoor in the famous Samudra Mahal building in Worli, besides residences of his daughters Raakhe and Radha in the up-market NCPA complex, Nariman point, besides Wadhawan's home at Sea View, Palace Hills, the officials said.The offices of DHFL, DoIT Ventures and RKW developers were also searched, they said.The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Rana Kapoor's daughters, DoIT Urban Ventures (India) Pvt Ltd, the officials said.The agency has alleged that between April and June, 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL), they said.Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project, the officials said.The amount was transferred to by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, they said.In return for these Yes Bank funds, Wadhawan allegedly invested Rs 600 crore in a company of Kapoor's daughters -- DoIt Urban Ventures (India) Pvt Ltd, which the CBI alleges to be a bribe to Kapoor for Yes Bank investments.DHFL is alleged to have siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies.The Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. ABS KJ

Yes Bank scam: CBI carries out searches at 7 locations in Mumbai; LOC issued

(Eds: Combines related stories) Mumbai, Mar 8 () Rana Kapoor, the founder of crisis-ridden Yes Bank, was arrested by the ED on Sunday under money-laundering charges after over 20 hours of questioning and remanded to its custody till March 11, a day after the CBI booked him for allegedly receiving kickbacks of Rs 600 crore in form of loans to a company held by his three daughters.As the agencies tightened the noose around the 62-year-old, his daughter Roshni Kapoor was stopped by ED from taking a flight to London as she is required to join the probe, officials said.On Saturday, the agency had widened its probe as the premises of Kapoor's daughters in Delhi and Mumbai were searched to gather more evidence.The banker was taken into custody at the ED office in Ballard Estate under the provisions of Prevention of Money Laundering Act around 3 am on Sunday as he was allegedly not cooperating in the probe, they said. Kapoor was questioned for over 20 hours after ED raided his residence on Friday night.On Sunday, the ED produced Kapoor before a holiday court in Mumbai and sought his remand, saying the role of some companies run by his family members needs to be established and they need to confront all these people with him.The defence lawyer, however, said Kapoor has been selectively targeted by ED and he is cooperating with the probe agency. "We are ready to cooperate and submit all the documents that the agency wants. I have fully cooperated with them," Kapoor said in the court."From the last few days I was not well, hence my family members took me to Breach Candy Hospital, but still I am cooperating with ED," he told in the court.However, the ED told the court it wants to conduct a through investigation and "many people are under the scanner". The court then remanded Rana Kapoor in ED's custody till March 11.Kapoor was arrested by ED on the basis of the CBI FIR registered on Saturday, after allegations of financial irregularities and mismanagement in the operations of Yes Bank surfaced and the RBI and the Union government initiated action to control its affairs.Sources said the CBI booked Kapoor, DoIT Urban Ventures Ltd, a company allegedly held by his family members and promoter-director of DHFL Kapil Wadhawan for alleged criminal conspiracy, cheating and corruption. The details of the FIR emerged on Sunday when the enforcement case information report (ECIR) of ED became public.The CBI alleged Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL though Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.According to the CBI FIR, the scam started taking shape between April and June 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of scam-hit DHFL.In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, officials said.DoIT Urban Ventures is held by daughters of Kapoor - Roshini, Radha and Rakhee - which are 100 per cent share holders of the company through Mogran Credits Pvt Ltd, it alleged."Rana Kapoor obtained undue pecuniary advantage from DHFL in the matter of investment in the debentures of DHFL by Yes Bank, through the companies held by his wife and daughters," the FIR alleged.The ED investigating officer had recorded Kapoor's statement under PMLA when he was first interrogated on Friday night at his upscale residence in 'Samudra Mahal' complex in Worli area here.He was brought to the ED office on Saturday noon for a fresh round of questioning.According to officials, Kapoor's wife Bindu and daughters - Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor - are allegedly linked to some companies to which the suspected "proceeds of crime" have been traced.The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts.Other alleged irregularities are also under the agency's scanner including the one related to the alleged PF fraud in the Uttar Pradesh power corporation, they added.The CBI has recently taken over investigation into the Rs 2,267-crore Employees' Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in Dewan Housing Finance Corporation (DHFL).The Reserve Bank of India had on Thursday imposed a moratorium on Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in Yes Bank under a government-approved bailout plan. NES/ABS AB RT ABHABH

ED arrests Yes Bank founder Rana Kapoor; CBI alleges kickbacks to firm held by daughters

<ul><li>The Enforcement Directorate is currently investigating <keyword id="1702687" type="ORGANIZATION" weightage="20" keywordseo="YES-Bank-founder">Yes Bank founder</keyword> <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>.</li><li>They suspect that he's responsible for ₹30,000 crore worth loans at Yes Bank that went bad.</li><li>Here's the full story of everything that the ED's investigation has revealed so far about how Rana Kapoor gave out those loans and pocketed the kickbacks.</li></ul>Yes Bank founder Rana Kapoor shunned the family jewellery businesses to break into the tough world of private banking in India. However, his choice of loans, heady risks and illegal practices of lending against kickbacks brought the country’s fourth-largest lender under the lens of investigative agencies. A year after he entered the billionaire club, Kapoor’s world <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">started to crumble</a> when the Reserve Bank of India (RBI) asked Kapoor to step down from his position as CEO of Yes Bank by January 2019. By July, Yes Bank’s share price had dropped by 78% leaving Kapoor with a net worth of $377 million. 
 
 
 <div type="image" title="rana6" msid="74645019" hostid="261" caption="&amp;lt;p&amp;gt;Rana Kapoor addresses his first press conference after taking charge as ASSOCHAM President in New Delhi on 26 July 2013&amp;lt;/p&amp;gt;"></div>







 But the bank had lost much more as ₹30,000 crore worth loans went bad, and the Enforcement Directorate (ED) held him responsible. After the <a href="https://www.businessinsider.in/finance/news/yes-bank-founder-rana-kapoor-arrested-by-ed-on-charges-of-money-laundering/articleshow/74534138.cms">ED arrested him</a>, it has identified 78 shell corporations that are suspected of receiving kickbacks in exchange for loans that no other bank would touch. According to the investigation, as his depositors lost money, he became richer by ₹5,000 crore only in kickbacks. With funds routed through shell companies and benami accounts, Kapoor <a href="https://www.businessinsider.in/business/news/a-reported-list-of-rana-kapoors-assets-include-a-30-million-investment-in-uk-a-yacht-and-five-properties-in-delhi/articleshow/74594273.cms">bought hotels in New York</a> and London, bungalows in Delhi, flats in Mumbai and expensive paintings. The ED's investigation also revealed that, Kapoor who played fast and hard with rules, also failed to insulate his family from harm. His wife Bindu and <a href="https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms">three daughters</a> — Roshini, Radha and Rakhee — are at the helm of most of these shell companies, and CBI has its claws around them too. The case of money laundering The saga of crony capitalism started to come to light last week when Kapoor was booked under the Prevention of Money Laundering Act (PMLA) on March 6 to look into the connection between him and Yes Bank’s bad loans. 
 
 
 <div type="image" title="rana7" msid="74645029" hostid="261" caption="&amp;lt;p&amp;gt;Rana Kapoor arrested at his residence in Mumbai by the ED&amp;lt;/p&amp;gt;"></div>







 The ED <a href="https://www.businessinsider.in/business/news/yes-bank-founder-rana-kapoor-questioned-on-money-laundering-case-house-raided-by-ed/articleshow/74522297.cms">raided his residence</a> at Samudra Mahal in Worli to search for evidence and grilled him for hours. The following day, <a href="https://www.businessinsider.in/business/news/ed-continues-questioning-yes-bank-founder-rana-kapoor/articleshow/74525680.cms">officials took Kapoor</a> back to ED’s Ballard Pier office in Mumbai. During the course of the interrogation, the agency expanded its probe to include his daughters. They allegedly own multiple companies that received kickbacks from different corporates who received loans from Yes Bank. 
 
 
 <div type="image" title="rana9" msid="74645036" hostid="261" caption="&amp;lt;p&amp;gt;Rana Kapoor reprimanded into ED Custody until March 16&amp;lt;/p&amp;gt;"></div>







 The ₹600 crore kickback from DHFL One of the companies suspected by the ED of giving kickbacks to Kapoor’s companies is DHFL — <a href="https://www.businessinsider.in/finance/news/yes-bank-founder-rana-kapoor-arrested-by-ed-on-charges-of-money-laundering/articleshow/74534138.cms">accused of misappropriating funds</a> worth ₹25,000 crore, which ultimately led to its downfall. Yes Bank had doled out a loan of ₹3,750 crore directly to DHFL and another loan worth ₹750 crore to RKW Developers, a subsidiary of DHFL. However, when the real estate company defaulted on its loan, Kapoor did not initiate any action. 
 
 
 <div type="image" title="rana4" msid="74645060" hostid="261" caption="&amp;lt;p&amp;gt;Rana Kapoor (C) with wife Bindu Kapoor (L) and daughter Roshni Kapoor (R)&amp;lt;/p&amp;gt;"></div>







 The ED now suspects that his restraint was a result of <a href="https://www.businessinsider.in/business/news/ed-questions-yes-bank-founder-rana-kapoor-for-second-day-expands-raids/articleshow/74530525.cms">kickbacks to the tune of ₹600 crore</a> to Doit Urban Ventures — a dummy corporation owned by Kapoor and two of his daughters. Nearly 80 shell companies set up to receive bribes and buy bungalows Two days into the interrogation Kapoor was arrested for not cooperating with the authorities. Meanwhile, 10 teams of the CBI were involved in its <a href="https://www.businessinsider.in/business/news/yes-bank-scam-cbi-carries-out-searches-at-7-locations-in-mumbai-loc-issued/articleshow/74554915.cms">search operations</a> spread across the south Mumbai neighbourhood. The ED found that Rana Kapoor and his family had more than <a href="https://www.ndtv.com/india-news/yes-bank-crisis-probe-agency-says-rana-kapoor-along-with-his-family-owned-78-shell-companies-2194031">78 shell companies </a>set up to receive bribes and invest in properties under the radar. All of these companies were either directly under Kapoor’s control or under the control of his wife and daughters. His wife, Bindu, was the director of at least 42 companies. 
 
 
 <div type="image" title="25110ed6046e3eb4597f509f58f1c4eb_edited" msid="74645069" hostid="261" caption="&amp;lt;p&amp;gt;Rana Kapoor&amp;#39;s property at Amrita Shergil Marg&amp;lt;/p&amp;gt;"></div>







 The companies allegedly invested in properties with a net worth of over ₹2,000 crore. An official told PTI that the current market value of those properties could be <a href="https://www.ndtv.com/india-news/yes-bank-crisis-probe-agency-says-rana-kapoor-along-with-his-family-owned-78-shell-companies-2194031">well above ₹5,000 crore.</a> His shady overseas properties include two luxury hotels — one in New York worth over $20 million and one in London worth nearly £30 million — two residential apartments in London valued at £15 million apiece, and a yacht. In India, Kapoor owns six bungalows in Delhi’s upscale neighbourhoods, including Jor Bagh, Hauz Khas and Kautilya Marg. Two were bought by a company called Bliss Adobe, which had Bindu as its director. The property on Amrita Shergil Marg was auctioned off by Avantha Realty when Bliss Abode picked it off the market. Coincidentally, Yes Bank’s exposure to Avantha Realty was ₹500 crore. The other house on Sardar Patel Marg was bought by the Kapoor’s shell corporation Bliss Home. ED’s investigation noted that the house was formerly owned by Vijay Mallya. ED also found that Kapoor owns six flats and a parcel of land in Mumbai and its suburbs. Priyanka Gandhi Vadhra and the painting by MF Hussain During the search of his Mumbai residence, the ED seized nearly 50 pieces of art from his home. One of the paintings — <a href="https://www.businessinsider.in/politics/india/news/congress-raises-question-over-rana-kapoors-links-with-bjp/articleshow/74544228.cms">a portrait of former prime minister Rajiv Gandhi by MF Hussain</a> — belonged to Congress leader Priyanka Gandhi Vadra. The Congress party says that the deal between Vadra and Kapoor was a transparent transaction of ₹2 crore. The payment was made through cheque and was reflected in income tax returns. However, the ED is still looking into whether the painting was Vadra’s to sell or belonged to the All India Congress Committee (AICC). It’s also looking into whether the provenance certificate — which authenticates the artwork — was signed by Vadra and under what circumstances. Can’t leave the country Kapoor and his family currently can’t leave the country. A look-out notice was also issued in their names on March 12 along with DHFL promoter Kapil Wadhawan and Dheeraj Wadhawan. Roshini, Kapoor’s youngest daughter, was stopped at the CSM International Airport in Mumbai trying to catch a flight to London. Kapoor’s arrest has been extended to March 16 during which he will be in the custody of the ED. The Central Bureau of Investigation (CBI) is also loading its guns. It has begun a probe into the Yes Bank affairs but has not elaborated on the nature of the probe. The Income Tax Department is next in line to initiate action against Kapoor and others for tax evasion and possession of alleged undeclared foreign assets. Meanwhile, the Odisha unit of the Bharatiya Janata Party (BJP) has asked for a separate probe to look into the alleged conspiracy behind the deposits of ₹545 crore of the <a href="https://www.businessinsider.in/business/news/concern-over-lord-jagannaths-rs-545-crore-in-yes-bank/articleshow/74514318.cms">Shree Jagannath Temple</a>. Money laundering, tax evasion, fraud and insider trading— the founder of India’s fourth-largest private sector bank Rana Kapoor has been accused of it all. And, the evidence against him is piling up. While depositors are all set to get <a href="https://www.businessinsider.in/india/news/yes-bank-withdrawal-limit-to-be-lifted-in-three-working-days/articleshow/74624128.cms">relief this week</a> as moratorium lifts, Kapoor who claims he has “no clue” why RBI restricted withdrawals - will stay with the authorities trying to explain how he sunk crores into companies that can best be described as money pits. See also: <a href="https://www.businessinsider.in/finance/news/yes-bank-crisis-and-its-domino-effect-on-bonds-mutual-funds-and-other-corporate-defaults/articleshow/74586858.cms">Yes Bank crisis and its domino effect on bonds, mutual funds and other corporate defaults</a> <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">The fall of Yes Bank founder Rana Kapoor from a billion dollars to facing a ₹4300 crore investigation</a> <a href="https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms">The three Kapoor sisters who said ‘no’ to banking are now in the dock with Yes Bank crisis</a>

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BJP's Jyotiraditya Scindia’s palaces, museums and posh complexes have a royal history

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ED continues questioning Yes Bank founder Rana Kapoor

PTI

ED questions Yes Bank founder Rana Kapoor for second day; expands raids

PTI

Yes Bank founder Rana Kapoor arrested by ED on charges of money laundering

PTI

Yes Bank scam: CBI carries out searches at 7 locations in Mumbai; LOC issued

PTI

ED arrests Yes Bank founder Rana Kapoor; CBI alleges kickbacks to firm held by daughters

PTI

Rana Kapoor's hotels, bungalows, flats and paintings — everything that Yes Bank founder is suspected for buying with kickbacks

Prabhjote Gill

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