STING: Rana Kapoor-Mallya Link Revealed; Caretakers Say Rana Tried To Sell Off Properties

General News

Republic TV’s investigation reveals that Rana Kapoor was desperately trying for the last six months to sell these properties.

Written By Shawan Sen | Mumbai | Updated On:

Republic TV’s Special Investigation Team has uncovered an unreported link – the link between Rana Kapoor and Vijay Mallya. A property deal that has now come under the scanner of the Enforcement Directorate (ED). A 1,000 sq meter property at 20 Sardar Patel Marg currently owned by one Bliss House Private Limited uncovers yet another link. The original owner of this property is fugitive economic offender Vijay Mallya. This property was sold in 2018 to Bliss House Private Limited – a company directly linked to Rana Kapoor’s wife Bindu Kapoor. ED suspects that 20 SP Marg property was one of the three properties that Rana Kapoor was trying to sell before he could flee from the country.

The other two properties – 40 Amrita Shergill Marg and 18 Kautilya Marg – were also being sold by Rana Kapoor. The consolidated value of the three properties stands at around Rs 1,000 crore. According to top ED sources, Rana Kapoor was trying to sell the properties so that he could flee from the country. In fact, the source added, a very senior level official at Yes bank was helping with the sale and that these properties were essentially used as collateral for loans granted by Yes Bank.

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Republic TV’s investigation reveals that Rana Kapoor was desperately trying for the last six months to sell these properties. A dozen buyers were shown these properties. In fact, the caretakers at 40 Amrita Shergill Marg and Sardar Patel Marg confirmed that several potential buyers had seen both the properties. “For the last six months, several buyers came to see this property. Rana Kapoor has been trying to sell off this property. He hasn’t visited this property for long now,” said the caretaker of 40 Amrita Shergill Marg, adding that no one lives in this property and in fact, Rana Kapoor used to stay in a hotel during his Delhi visit.

The caretaker at 20 Sardar Patel Marg told Republic TV that the original owner of this property was Vijay Mallya who then sold it off to Rana Kapoor. What is interesting to note is that Yes Bank had given a substantial loan to the defunct Kingfisher Airlines. “We are going to look at the deal. In other cases collateral property was bought by Rana Kapoor’s family members flouting RBI guideline,” said an investigating officer. Vijay Mallya had pledged United Breweries Holding Ltd to Yes Bank as security against a loan taken by Kingfisher Airlines.

The original owner of 40 Amrita Shergill property is businessman Gautam Thaper. Gautam Thaper had taken a loan of Rs 500 cr from Yes Bank which his company had defaulted. Amrita Shergill Marg's property was mortgages against the same property. Yes Bank, thereafter, auctioned the property. A newly formed company Bliss Abode got the property in the auction for Rs 350 cr. The company is linked to Rana Kapoor’s wife Bindu Rana Kapoor.

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