Up to date: March 8, 2020 5:57:11 am
The Enforcement Directorate (ED) arrested Sure Financial institution founder Rana Kapoor on late Sunday evening below cash laundering costs in Mumbai, information company PTI reported. Kapoor was questioned on Saturday by the company, which carried out searches at premises related to the Sure Financial institution promoter.
Officers stated Kapoor was positioned below arrest round Three am below the supply of the Prevention of Cash Laundering Act (PMLA) as he was allegedly not cooperating within the probe, PTI reported. Officers added that he shall be produced earlier than a neighborhood court docket throughout the day to acquire custody.
Kapoor was questioned over a Rs 600-crore mortgage from a non-banking monetary firm (NBFC), which is an affiliate firm of Dewan Housing Finance Restricted (DHFL), to DoIT City Ventures (India) Personal Ltd, an organization owned by Kapoor’s household, at a time when Sure Financial institution had mortgage publicity of over Rs 3,000 crore to DHFL. Rana Kapoor was the MD and CEO of Sure Financial institution until January 2019.
Paperwork accessible with the Registrar of Corporations below the Ministry of Company Affairs present that DoIT was integrated in 2012 with Rana Kapoor’s spouse Bindu as its director.
It at the moment has his daughters Roshini Kapoor and Radha Kapoor Khanna as its administrators.
The corporate has no workers and within the yr ended March 2019, it incurred a lack of over Rs 48 crore on a income of Rs 59.36 crore. Morgan Credit Personal Ltd can also be one of many promoters of DoIT City and its administrators are Kapoor’s daughters Roshini Kapoor, Raakhe Kapoor Tandon and Radha Kapoor Khanna.
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