Rana Kapoor arrested for Yes Bank: 20 hours interrogation

Mumbai, Ta. March 8, 2020, Sunday

Yes Bank founder Rana Kapoor's Enforcement Directorate (ED) arrested him on Sunday morning after intensive interrogation of 20 Klaas. ED has presented Rana Kapoor to the PMLA court in Mumbai on Sunday where he has been remanded in ED custody till March 11 for questioning.

CBI has also launched an inquiry after the ED in the cases related to Yes Bank. CBI has loaned Rs 3 lakh to a company owned by Rana Kapoor's three daughters. An FIR has been registered against Rana Kapoor for allegedly receiving Rs 600 crore bribe. The Enforcement Directorate arrested Rana Kapoor on Sunday over charges of money laundering.

Authorities said that Rana Kapoor was arrested under the provisions of the PMLA for money laundering at 3.00 pm on Sunday as he was not cooperating in the investigation. He was questioned for more than 20 hours after the Central Investigation Agency raided Kapoor's residence on Friday night.

The Central Investigation Agency (CBI), against Kapoor, his wife and three daughters, has been mainly involved in Dewan Housing Finance Ltd. (DHFL) to provide a loan of Rs. Investigation of Rs 600 crore bribe case.

ED claimed that Yes Bank was paying DHFL Rs. Provided a loan of over Rs 3,700 crore. Later, the bank did not take any steps to recoup DHFL's NPA loan, and for this, Kapoor's daughter company, through DOIT Urban Ventures (India), raised Rs. 600 crore was bribed.

Increasing the scope of inquiry in these cases, the Central Investigation Agency had also raided the properties of Rana Kapoor's three daughters in Delhi and Mumbai to collect evidence. In addition, ED has also issued a lookout notice against Rana Kapoor's wife Bindu Kapoor, daughters Rakhi Kapoor Tandon, Radha Kapoor and Roshani Kapoor. Rana Kapoor's daughter Roshani Kapoor was stopped from Mumbai airport on her way to London on Sunday.

ED has arrested Rana Kapoor at the YES Bank over allegations of financial irregularities and misconduct in his management and the RBI and the central government have initiated proceedings against him. RBI recently disbanded the bank's board due to financial irregularities in Yes Bank and had paid Rs. 50,000 is the limit.

Apart from the ED, the CBI has also filed an FIR on Sunday against Rana Kapoor, DHFL, DOIT Urban Ventures for criminal conspiracy, fraud and corruption. According to the CBI FIR, Rana Kapoor will pay Rs 1,000 in short-term debentures of DHFL through Yes Bank. The scam started between April and June 2018, investing Rs 3,700 crore.

Yes Bank customers will now be able to withdraw money using a debit card

Customers also get relief from cash withdrawals from other bank ATMs

Mumbai, Ta

Yes Bank, which has been banned due to financial mismanagement, has given great relief to its customers. Yes Bank has tweeted, telling customers that the money can be withdrawn using Yes Bank's debit card. Yes Bank Bank ATMs can be withdrawn from other Bank ATMs as well. Through the tweet, the bank also thanked the customers for their patience.

Yes Bank's recent chapter came out and customers of the bank went to the ATM of their branch to raise money to withdraw money. The line was seen until Saturday morning.

Scenes of several ATMs have been shut down since Friday night, even in Mumbai. So many people were troubled with how to get money in time of disaster. After all, many customers were relieved today due to the convenience of debit cards.

ED's look at Rana Kapoor's more than 20 shell companies, 2000 crore investment

Rana Kapoor has more than 44 expensive painting, shell companies used to bribe: ED

Mumbai, Ta. 8

Yes Bank founder Rana Kapoor's problems are increasing. Rana Kapoor has been accused of taking bribes from the DHFL and giving a huge loan. According to ED sources, Rana Kapoor owns a large property in London.

ED is now investigating the source of this asset purchase. ED says that Rana Kapoor had set up more than 20 shell companies for bribery, which was controlled by family members. Through these companies Rana Kapoor and his family used to transfer money.

Besides, Rana Kapoor's Rs. ED is also eyeing over Rs 2,000 crore investment and 44 expensive paintings. ED officials want to know why Rana Kapoor, the former MD and CEO of Yes Bank, sold all of its bank shares in November 2019.

Earlier, he often said that Yes Bank was his Diamond and he would never sell this stock. Under the leadership of Rana Kapoor, Yes Bank also started giving loans to businessmen who were refused loan due to poor performance by other banks.

In this series, he gave loans to businessmen like DHFL, Anil Ambani, Vodafone, Café Coffee Day and most of the loan was later NPA. The Reserve Bank, in doubt, launched Yes Bank's Asset Quality Review (AQR) in 2015.

The RBI found that in 2017, the bank showed a NPA of 2018 crore, while the total NPA was 83,73 crore. That means Yes Bank had hidden an NPA of 7355 crore. The Reserve Bank then took further action and in January 2019 he was removed as chairman.

ED officials said that during the raids in Rana Kapoor's premises, the family received Rs. The details of the investment worth Rs 2,000 crore were against. In addition, the presence of more than 20 shares or dummy companies has also emerged. These companies are believed to be used for bribery.

In addition, the family also purchased more than 44 expensive paintings, some of which are believed to have been purchased by politicians. According to sources, Rana Kapoor's wife Bindu Kapoor is a director in 15 companies. His son Roshani Kapoor is the director of 23 companies, Radha Kapoor is the director of 20 companies. In addition, his son-in-law Aditya is a director at several companies.