Former YES Bank Chairman Rana Kapoor spills the beans
He also said that he was promised one of the country’s top civilian awards in return.
Insight Bureau: Yes Bank founder Rana Kapoor has claimed in a statement to the Enforcement Directorate (ED) that he was pushed to buy a MF Husain painting from Priyanka Gandhi Vadra. He also said that he was promised one of the country’s top civilian awards in return.
The statement, recorded by ED on March 9 and 10, 2020, added that the sale was facilitated by senior Congress leader Murli Deora — a fact that has been previously reported.
Rana Kapoor’s statement reads that Rs 2 crores he paid by cheque for the MF Husain painting were utilised for the treatment of Sonia Gandhi in New York. Promises made by Murli Deora to him were not fulfilled, he added in his statement included in ED chargesheet against him.
Yes Bank ex-chairman Rana Kapoor’s statement included in ED chargesheet against him states he was forced by Murli Deora to purchase an MF Husain painting from Priyanka Gandhi Vadra for Rs 2cr.Rana’s statement also states he was told that this will help him get Padma Bhushan.
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It adds that a few weeks later after the purchase, senior Congress leader, the late Ahmed Patel, had appreciated his “good deed” and informed him that he (Kapoor) would be “duly considered” for a major civilian honour, and “possibly some non-political banking and finance assignments”.
However, the sale of the painting, a portrait of former PM Rajiv Gandhi by Husain, has been previously reported, and confirmed. ED initiated money laundering proceedings against Rana Kapoor, his wife, daughters, Dewan Housing Finance Corporation Ltd (DHFL) promoter Kapil Wadhawan and some Yes Bank officers in December 2019 on the basis of a cheating case registered by the Lucknow police against DHFL.
According to ED, Yes Bank had between April and June 2018, invested ₹3,700 crore in DHFL’s short-term debentures and subsequently also sanctioned a loan of ₹750 crore to a DHFL subsidiary. In return, DHFL gave Kapoor ₹600 crore in kickbacks in the forms of loan to Do It Urban Ventures Pvt Ltd, a firm controlled by Rana Kapoor and his family members.
In March 2020, CBI also registered a case alleging that Rana Kapoor extended financial assistance to DHFL to get substantial undue benefits for himself and his family members via companies held by Kapoor and his family.
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