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Rana Kapoor says was 'forced' to buy MF Hussain painting from Priyanka Gandhi: ED chargesheet

The MF Hussain painting was reportedly purchased by Kapoor for a whopping Rs 2 crore and it has been attached by the ED as proceeds of crime in its money laundering probe against the banker and some borrowers.

ET Now Digital

Updated Apr 24, 2022, 08:26 IST

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KEY HIGHLIGHTS

The embattled founder of Yes Bank also claimed that in return to his favour he was promised one of the country’s top civilian awards.
The M F Hussain painting was reportedly purchased by Kapoor for a whopping Rs 2 crore.
The ED has also stated in its second supplementary chargesheet that it is probing illegal diversion and siphoning off funds.

Former Yes Bank CEO Rana Kapoor in a statement to the Enforcement Directorate (ED) has said he was "forced" by late Murli Deora to buy a painting of M F Hussain from Congress leader Priyanka Gandhi Vadra.

In his statement, the embattled founder of the bank also claimed that in return to his favour he was promised one of the country’s top civilian awards.

The ED has also stated in its second supplementary chargesheet that it is probing illegal diversion and siphoning off funds through suspicious transactions of Rs 5,050 crore linked to erstwhile-DHFL with Yes bank when Kapoor was at its helm. Other than Kapoor, the promoters of erstwhile DHFL- Kapil and Dheeraj are also co-accused in the case.

"In 2010, In a meeting late Murli Deora told me in no uncertain terms that any further delay in purchasing the painting could have adverse repercussions on me and on my Yes bank and it could jeopardize my relationship with the Deora family. Simultaneously, he had tried to convince me that it will also not permit me ever to build a relationship with Gandhi family," the statement, a part of the chargesheet reviewed by ET, said.

The banker claimed that he was promised "Padma Bhushan" if he would agree to buy that paining. Kapoor further said Deora quoted Rs 2.5 crore for the painting, but after some negotiation he bought it for Rs 2 crore.

"I was informed by Ahmed Patel that I had performed a good deed for the family and it would be duly considered for the Padma Bhushan and possibly some other non-political banking and finance assignment," ET reports, citing ED chargesheet.

Kapoor, however, claimed in his statement that during the course of the deal he never has any meeting with any member of the Gandhi family.

There has been no official response either from the Congress party or Priyanka Gandhi on the matter so far.

"During the investigation, it came to light that a big part of the proceeds of crime (POC) generated in this case has been siphoned off overseas by Rana Kapoor and hence they are not available for attachment directly under the provisions of Prevention of Money Laundering Act (PMLA)," the chargesheet adds.

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