Was ‘forced’ to buy MF Hussain painting from Priyanka Gandhi: Rana Kapoor in ED statement

In his statement before the Enforcement Directorate (ED), jailed (YBL) promoter Rana Kapoor has claimed that despite not being a connoisseur of art, he was ‘forced’ by the Deoras (late Murli and son Milind Deora) to purchase a MF Hussain painting from Congress leader Priyanka Gandhi-Vadra. The said painting allegedly purchased at Rs 2 crore by Kapoor has been attached by the federal agency as proceeds of crime in its money laundering probe against the banker and certain borrowers.

The agency has also stated in its second supplementary chargesheet that it is probing illegal diversion and siphoning of funds through suspicious transactions of Rs 5050 crores 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 instant 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 states

Kapoor claimed that he was also told that a non-compliance would prevent him from getting awarded “Padma Bhushan’. Kapoor adds that even though he was a high value art collector, he couldn’t invite anyform of enmity with the two powerful families. He claims that while Deora quoted Rs 2.5 crore for the painting, he negotiated the amount to Rs 2 crores.

“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,” he adds.

Kapoor adds that none of the commitments made by the Deora family were honored. He has however claimed that during the course of the deal he didn’t meet anyone from the Gandhi family including Sonia, Rahul or Priyanka.

Until the time of going to press there was no official response by the AICC.Email sent to Priyanka Gandhi-Vadra office remained unaswered. Text message sent to Milind Deora didn’t elicit a response

The ED has also claimed that they estimate that the proceeds of crime in this case is Rs 5,500 crores. “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.