HomeReal Estate NewsRana Kapoor’s wife gifts property to nine-month old grandson

Rana Kapoor’s wife gifts property to nine-month old grandson

The gift deed was registered on July 31, 2021, according to the documents. A stamp duty of Rs 36.90 lakh has been paid to execute the deed of gift in favour of Aashiv Khanna through Aashiv Khanna’s mother Radha Kapoor Khanna in her capacity as the natural guardian, the documents said.

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By Moneycontrol News August 20, 2021, 2:43:03 PM IST (Published)

Rana Kapoor’s wife gifts property to nine-month old grandson
The wife of Yes Bank founder Rana Kapoor, Bindu Rana Kapoor, has gifted a property she owned at Jor Bagh in New Delhi to her nine-month-old grandson Aashiv Khanna, registration documents made available by Zapkey.com showed.


The gift deed was registered on July 31, 2021, according to the documents.

A stamp duty of Rs 36.90 lakh has been paid to execute the deed of gift in favour of Aashiv Khanna through Aashiv Khanna’s mother Radha Kapoor Khanna in her capacity as the natural guardian, the documents said.

The unit is located on a 369.40 square meter plot in Jor Bagh and includes a ground floor with 2BHK, a living area and one parking slot, among other facilities. The ground floor measures 161.5 sq m, the documents said.

Bindu Rana Kapoor had inherited a share in her father’s property in 2004, the documents showed.

When contacted, Radha Kapoor Khanna, the Kapoors’ daughter, did not comment.

The market value of the property is around Rs 40 crore, according to brokers active in the area. Another property in the vicinity spread across an area of 375 sq yards was sold for Rs 43.5 crore on July 24, 2021, as per documents accessed by Zapkey.com.

Transfer of properties to near and dear ones could be out of genuine love and affection, according to legal experts. Transfers also often happen to safeguard the possible attachment of properties in the future.

On July 21, a Prevention of Money Laundering Act (PMLA) court had rejected the bail plea of Yes Bank founder Rana Kapoor arrested by the Enforcement Directorate in connection with alleged multi-crore fraud at the bank.

Kapoor had sought bail on the merits of the case. His lawyers had submitted that the investigation in the case was completed, hence there was no reason to keep him in jail. Also, most of the evidence was documentary in nature and cannot be tampered with by the accused, they added. However, special judge P P Rajvaidya rejected Kapoor's plea.

The banker, currently in judicial custody, was arrested in March under provisions of the Prevention of Money Laundering Act (PMLA). The Enforcement Directorate (ED) is primarily investigating Kapoor, his wife and three daughters over Rs 600 crore received by a firm allegedly controlled by them linked to the scam-hit Dewan Housing Finance Limited (DHFL).

Kapoor, his family members and others got benefits of Rs 4,300 crore through companies controlled by them as kickbacks for sanctioning huge loans, the ED has alleged.

He is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into non-performing assets (NPAs). The Central Bureau of Investigation (CBI) is also probing a related case.

In June 2021, The Securities Appellate Tribunal (SAT) has upheld regulator Sebi's orders imposing a fine of Rs 1 crore on former Yes Bank CEO Rana Kapoor and a penalty of Rs 50 lakh each on two other entities. The entities — Yes Capital (India) and Morgan Credits — were penalised by Sebi in March 2021 for not making the requisite disclosures pertaining to the encumbrance of shares.

Market regulator Sebi, in September 2020, had imposed a fine of Rs 1 crore on Kapoor for not making disclosures regarding the Morgan Credits transaction. By not disclosing the transaction to Yes Bank's board of directors, Kapoor has created an opaque layer between him and stakeholders, Sebi had said in its order passed in September 2020.
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