Was forced to buy MF Hussain painting from Priyanka Gandhi for Rs 2 cr: Rana Kapoor to ED

The ED is looking into a money laundering case involving Rana Kapoor and his family members. A complaint has also been filed against Rana Kapoor for unlawfully lending Rs 1900 crore to Gautam Thapar's Avanta firm.

Yes Bank promoter Rana Kapoor told the Enforcement Directorate (ED) that he was 'forced' to acquire an MF Hussain painting from Priyanka Gandhi Vadra for Rs 2 crores by a then-Congress Union Minister. According to the chargesheet filed by the agency in a special court in Mumbai, Kapoor told the agency that he was forced to buy the painting by then-Petroleum

Minister Murli Deora, and that Deora then told the Yes Bank promoter that the sale proceeds were used to treat party interim chief Sonia Gandhi in New York. Murli Deora served as Petroleum Minister in Congress-led United Progressive Alliance administrations.

"In exchange for the purchase of the MF Hussain artwork, the Congress politician also promised Kapoor a Padma Bhushan award and additional business," according to the chargesheet issued by the agency.

The ED is looking into a money laundering case involving Rana Kapoor and his family members. A complaint has also been filed against Rana Kapoor for unlawfully lending Rs 1900 crore to Gautam Thapar's Avanta firm. The ED claims that a bribe of Rs 300 crore was given to Kapoor in exchange for enabling Rs 1,900 crore in loans from Yes Bank to Gautam Thapar's firm.

Following his arrest in the case in March 2020, the banker is presently in judicial detention. He informed the ED that the finalisation of the agreement took place at Priyanka Gandhi Vadra's office.