According to ED’s remand papers accessed, Kapoor is suspected to have been involved in laundering ₹4,300 crore. He allegedly received a kickback of ₹600 crore from Dewan Housing Finance Corporation Limited (DHFL), the agency said. The agency alleged that Yes Bank bought ₹3,700 crore worth debentures of DHFL, which granted a ₹600-crore loan to Doit, a company in which Kapoor’s daughters are directors. The ED believes the loan to Doit was a kickback for Yes Bank’s subscription to the debentures of DHFL.

Sources said the probe has revealed that members of the Kapoor family received kickbacks in lieu for the loans sanctioned. The ED is checking if the properties are bought from the proceeds of crime. Among the properties are a bungalow on the city’s Altamount Road, properties in Delhi on Kautilya Road, SP Road and Amrita Shergill Road. The agency is also scanning properties in a foreign location. The worth of the properties is hundreds of crores.

The agency has stumbled upon 47 expensive paintings, including an MF Husain painting of Rajiv Gandhi. The ED has provisionally attached the paintings which were seized during the raids. Former Yes Bank chief executive officer Ravneet Gill also joined the probe on Monday and visited the ED office in Ballard Estate.

The post Rana Kapoor’s properties under ED’s scanner appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The move comes after the Opposition attacked the BJP government over investments of more than Rs 2,600 crore of the UPPCL EPF in scam-hit housing finance firm DHFL.

Aparna U has been shifted to the irrigation department as secretary. M Devraj, who has returned from central deputation, will be the new power secretary and UPPCL managing director, a government spokesperson said.

The Samajwadi Party and the Congress have demanded that Power Minister Shrikant Sharma and the principal secretary of his department be dismissed. The SP also demanded a probe by a sitting high court judge into the scam.

Congress workers held a protest demonstration over the issue in Lucknow and demanded dismissal of Sharma, saying that a scam of this size cannot take place without the “connivance” of the minister.

Last Saturday, the state government had recommended a CBI probe into the matter. The state government had on Sunday claimed that the “dubious” decision was taken by the previous government headed by Akhilesh.

The post DHFL SCAM EFFECT : UPPCL MD REMOVED appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.