Yes Bank founder Rana Kapoor questioned by ED for the second consecutive day

Mumbai, Ta. March 7, 2020, Saturday

Yes Bank's founder Rana Kapoor was taken to the Enforcement Directorate's Mumbai office for questioning. The agency conducted an investigation at the houses of Rana's three daughters Roshni, Rakhi and Radha Kapoor.

The raid was carried out on Friday evening and today following an investigation into Kapoor's residence. The malpractices were made by top leaders who were seriously behind in the financial crisis of Yesbank, one of the country's largest private finance companies.

Dewan Housing Finance Corporation Ltd. Based on the details obtained from the DHFL investigation, the ED has conducted its own investigation after a case was registered for black money laundering under the Prevention of Money Laundering Act (PMLA).

The case against DHFL promoter Kapil Wadhwa and his brother Dheeraj Wadhwa is related to the purchase of property of late gangster Iqbal Mirchi. This chapter has registered a case and Kapil Wadhwan, who was arrested in January, is currently out on bail.

The Enforcement Directorate alleged that Yes Bank had loaned to DHFL and in the same period, the cash was transferred to the account belonging to Yas Bank's founder Rana Kapoor's family.

These accounts also include his wife's account. On Thursday, an RBI ban on Yes Bank imposed an amount of Rs. The limit of withdrawal of 50 thousand was imposed. This led to widespread panic. The government-run State Bank of India (SBI) has been tasked to redeem Yes Bank.

SBI is currently planning, SBI chairman Rajneesh Kumar said. The RBI will be given the option on Monday. SBI will take a 49% stake in Yes Bank. Meanwhile, Yes Bank has assured its customers that their deposits are safe.