Priyanka Vadra’s Rs2-cr sale of painting to Rana Kapoor excites ED
11 Mar 2020
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Amidst the Yes Bank mayhem, various reports have surfaced on how the bank’s founder Rana Kapoor bought a Rajiv Gandhi portrait from Congress leader Priyanka Vadra for Rs2 crore.
The Enforcement Directorate (ED) has started an investigation in connection with the painting amidst reports that the painting was the property of Congress and not Priyanka Vadra.
The portrait of Rajiv Gandhi was made by MF Hussain during the centenary celebrations of Congress property.
According to some reports, Rana Kapoor, the then director of Yes Bank, was pressured by Congress leader Milind Deora to buy the painting from Priyanka Vadra.
While the actual worth of the painting by M F Hussain is disputable, the fact remains that the Rs2-crore investment by Ran Kapoor in the painting, like other investments by the fallen banker, is proceeds of crime, say reports.
Reports also say that Rana Kapoor had sent a blank cheque to Priyanka Vadra’s personal secretary and the value of the portrait was decided by her.
Reports also claim that Rana Kapoor, who has over 40 exquisite paintings in his possession, used to get them certified by experts for valuation, but no such certification was done for the painting acquired from Priyanka Vadra.
In fact, reports say, Congress leader Milind Deora had purportedly written a number of letters to disgraced co-founder of Yes Bank Rana Kapoor, in 2010, urging him to purchase the painting from Priyanka Vadra.
The reports cite several letters of Deora, addressing Yes Bank CEO him as 'Rana Uncle' and asking him repeatedely to contact Priyanka Vadra to initiate the purchase, emerging in the process as the principal facilitator in a murky transaction.
