According to the statement, Rana Kapoor has shipped most of the proceeds of the crime (POC) abroad in this case and is therefore not available to be directly linked under the provisions of the Illegal Money Laundering Act (PMLA).
DHFL has given a loan of Rs 600 crore to Rana Kapoor's for-profit company, DUPL, without sufficient basis, the agency said. It claimed that the loans given to the Kapoor family-owned company were to cover up the entire deed. Rs. 39.68 crore against a nominal value of Rs. 600 crores has been given and considering further conversion from farmland to residential land, Rs. Investigation revealed that the value has been increased to Rs 735 crore.
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