The Enforcement Directorate has attached assets worth Rs 415 crore of Maharashtra builders Avinash Bhosale and Sanjay Chhabria in the Yes Bank-DHFL case.
The move comes more than a month after the builders were taken into custody over a money-laundering probe.
On Tuesday, ED issued a provisional attachment order under Prevention of Money Laundering Act, 2010, to attach Bhosale's assets worth Rs 164 crore and Chhabria's assets worth Rs 251 crore.
The attached assets of Chhabria include land in Santa Cruz, Mumbai, a flat in the same suburb, 25% stake in a land parcel in Bengaluru, profit from his hotel at Delhi airport and three high-end luxury cars. Bhosale's assets attached include a duplex flat in Mumbai, two plots in Pune, and two more in Nagpur.
The ED and the Central Bureau of Investigation have booked Chhabria and Bhosale, as well as Yes Bank Ltd.'s cofounder Rana Kapoor and DHFL Ltd.'s Kapil Wadhawan and Dheeraj Wadhawan in separate complaints. While the Wadhawans were arrested in May, Kapoor was arrested in March. They are in judicial custody.
According to a CBI complaint, Kapoor entered into a "criminal conspiracy'' with Kapil Wadhawan and others for extending financial assistance to DHFL by way of Yes Bank. In return, companies controlled by Kapoor and his family received substantial "undue benefit".
According to the ED, Kapoor made Yes Bank invest Rs 3,700 crore in short-term non-convertible debentures of DHFL and Rs 283 crore in masala Bonds of DHFL. "Simultaneous to this investment made by Yes Bank in DHFL, Kapil Wadhawan through DHFL paid a kickback of Rs 600 crore, in the garb of loan, to Kapoor's DOIT Urban Ventures (India) Pvt. Ltd."
"Immediately after the said transfer of funds to the tune of Rs 3,983 crore by Yes Bank to DHFL appraised and sanctioned loans to Radius Group of Sanjay Chhabria and received funds to the tune of Rs 2,317 crore as loan from DHFL in the name of development of his project 'Avenue 54' at Santa Cruz, Mumbai, and then Chhabria diverted the same without using it for the declared purpose," it said.
Sanjay Chhabria "connived" with Avinash Bhosale and "diverted" funds to the latter in his various beneficially owned companies, the ED has alleged.
Apart from this, Bhosale "connived" with Kapil Wadhawan and received about Rs 71.82 crore from DHFL in the garb of providing certain services to DHFL and other entities. "However, the said so called services have never been provided and same was utilised by Bhosale for his beneficial use," it said.
The total attachment in this case now stands at Rs 1,827 crore, it said.
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