What does the cryptic crossword clue "Thrash we held in Asian capital (3,5)" mean?

The definition is "capital". The wordplay uses an anagram. anagram of WE + HELD + IN = NEWDELHI; definition: "capital" The answer is NEWDELHI.

Thrash we held in Asian capital (3,5)

Daily Mail Cryptic #16488 | 16 Down | 2021-01-12 flower