Yes Bank scam: Rana Kapoor purchased Priyanka Gandhi's MF Hussain painting for Rs 2 crore

Rana Kapoor, 62, was arrested on Sunday (March 8) by the Enforcement Directorate in Mumbai after charges of alleged financial irregularities and mismanagement in the bank's operations surfaced and the RBI and Union government initiated action to control its affairs.

New Delhi: A war of words broke out between the BJP and Congress on Sunday (March 8, 2020) over the Yes Bank crisis with the ruling party seeking to link it with the Gandhi family, while the opposition wondered if the prime minister and finance minister were "complicit" as the bank's loan book grew manifold.

Posting on Twitter a clip of a news channel report that Rana Kapoor, the arrested Yes Bank founder, had bought a painting from Congress leader Priyanka Gandhi Vadra, BJP's information and technology wing in-charge Amit Malviya alleged that every financial crime in India has "deep links" with the Gandhis.

The Congress termed the charge "fake".

It said Priyanka Gandhi Vadra had sold an M F Hussain painting of her father Rajiv Gandhi to Kapoor for Rs 2 crore, and the entire amount was disclosed in her income tax return of 2010.

Malviya tweeted, "Every financial crime in India has a deep link with the Gandhis. Mallya used to send flight upgrade tickets to Sonia Gandhi, had access to MMS (Manmohan Singh) and PC (P Chidambaram). Is absconding. Rahul inaugurated Nirav Modi's bridal jewellery collection, he defaulted. Rana bought Priyanka Vadra's paintings."

Rubbishing the allegation, Congress spokesperson Abhishek Manu Singhvi said it was a "diversionary" tactic by the government.

He noted that the bank's loan book rose from Rs 55,633 crore in March 2014, the year Narendra Modi became prime minister, to Rs 2,41,499 crore in March 2019.

"Why did the loan book rise by 100 per cent in two years after demonetisation i.e from Rs 98,210 crore in March 2016 to Rs 2,03,534 crore in March 2018? Were PM and FM sleeping, ignorant or complicit?" he asked.

The entire amount Priyanka Gandhi Vadra had received was in cheque and was fully disclosed in the income tax return, Singhvi said.

Rana Kapoor, 62, was arrested by the Enforcement Directorate in Mumbai after charges of alleged financial irregularities and mismanagement in the bank's operations surfaced and the RBI and Union government initiated action to control its affairs.