The Enforcement Directorate (ED) has arrested on Thursday, DHFL promoters, Kapil and Dheeraj Wadhawan in their involvement with its money laundering probe against the Yes Bank co-founder, Rana Kapoor and others mentioned the official.They were arrested under the legal provisions of the Prevention of Money Laundering Act. In another money laundering investigation involving gangster Iqbal Mirchi, the Wadhawan brothers are being investigated on behalf of Ed. Earlier, on behalf of the agency, the Wadhawan brothers were summoned several times in the Yes Bank case, but they referred to the ban imposed due to coronavirus to avoid summons.
Five vehicles of the Wadhawan brothers were seized by the Ed in April’2020 when he and his family members were reported to have travelled unauthorizedly from Lonavala in Maharashtra during the lockdown. As far as 44 companies belonging to 10 large business groups including Anil Ambani Group, Essel Group, ILFS, Diwan Housing Finance Corporation Limited, Cox & Kings, and Bharat Infra are responsible for Yes Bank’s Rs 34,000 crore of bad loan.
The ED has accused Kapoor along with his family members of laundering the proceeds of crime worth Rs 4,300 crore. Ed has said that there were alleged deficiencies in return for large loans through his bank which later allegedly turned into non-performing assets (NPAs).Kapoor is also in the custody of Ed.