The ED had issued a provisional attachment order under the Prevention of Money Laundering Act to attach assets of Avinash Bhosle worth Rs 164 crore, while that of Sanjay Chhabria is worth Rs 251 crore.
The ED had issued a provisional attachment order under the Prevention of Money Laundering Act to attach assets of Avinash Bhosle worth Rs 164 crore, while that of Sanjay Chhabria is worth Rs 251 crore.
assets worth ₹415 crore Arrested Maharashtra builders Avinash Bhosale and Sanjay Chhabria The Enforcement Directorate (ED) on August 3 said that Yes Bank-DHFL are engaging in a money-laundering case related to bank loan fraud. Both the builders were taken into custody by the federal agency in the case in June and are currently in judicial custody.
The ED had on Tuesday issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) to attach assets of Avinash Bhosle worth Rs 164 crore, while that of Sanjay Chhabria is worth Rs 251 crore.
Chhabria’s attached property is in the form of a land parcel located at Santacruz, Mumbai, valued at ₹116.5 crore, 25% equity shares of Chhabria’s company are held in a land parcel located at Bangalore, valued at ₹115 crore, Which is a flat located in Santacruz, Mumbai. The ED said in a statement that three high-end luxury cars worth ₹3 crore, a hotel in Chhabria located at the Delhi airport, a profit of ₹13.67 crore and ₹3.10 crore.
Pune-based businessman Avinash Bhosale’s properties that have been attached are a duplex flat in Mumbai worth ₹102.8 crore, a land parcel located in Pune worth ₹14.65 crore, another Pune based land parcel worth ₹29.24 crore. crores. It said that the land in Nagpur is worth Rs 15.52 crore and the other part of the land located in Nagpur is worth Rs 1.45 crore.
The ED and the Central Bureau of Investigation (CBI) are probing the matter and two central agencies have registered a case against two builders, Yes Bank co-founder Rana Kapoor and DHFL promoter-directors. Kapil Wadhawan and Dheeraj Wadhawan in their separate complaints.
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While Wadhawan was arrested by the ED in May in this case, Rana Kapoor was arrested in March. Like the other two builders, they are presently in judicial custody.
In its complaint by the CBI, it was alleged that Rana Kapoor, along with Kapil Wadhawan and others, had entered into a “criminal conspiracy” to provide financial assistance to DHFL by Yes Bank Ltd for himself and his family members. in exchange for a substantial “undue advantage”. companies held by them.
The ED alleged that Rana Kapoor through Yes Bank Ltd invested Rs 3,700 crore in short-term non-convertible debentures of DHFL and Rs 283 crore in masala bonds of DHFL. “With this investment made by Yes Bank in DHFL, Kapil Wadhawan, through DHFL, under the guise of a loan to one of Rana Kapoor’s beneficially owned company – DOIT Urban Ventures (India) Pvt Ltd, made a kickback of 600 crores. paid.
“Soon after the alleged transfer of ₹3,983 crore by Yes Bank to DHFL, the loan to Sanjay Chhabria’s Radius Group was appraised and sanctioned and an amount of ₹2,317 crore was received as loan from DHFL in the name of development. Santacruz, His project ‘Avenue 54’ in Mumbai and then Chhabria changed it without using it for the stated purpose,” it said.
The ED claimed, “Sanjay Chhabria “colluded” with Avinash Bhosle and later “diverted” him into various beneficially owned companies.
In addition, Bhosale “colluded” with Kapil Wadhawan and received around Rs 71.82 crore from DHFL under the guise of providing certain services to DHFL and other entities. “However, the said so-called services were never provided and were used by Bhosale for his beneficial use,” it said. The total attachment in this case is now ₹1,827 crore, it said.