Yes Bank Crisis: Yes Bank founder Rana Kapoor can be in ED custody until March 11

by Jeremy Spirogis
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new Delhi: Mumbai's Special Holiday Court has despatched Yes Bank founder Rana Kapoor to the Enforcement Directorate (ED) by March 11. Earlier this morning, the ED questioned Rana Kapoor for a complete of 15 hours on costs of cash laundering, after which he was arrested. Earlier, the ED had carried out a raid on the residence of Yes Bank founder Rana Kapoor in Mumbai on Friday.

The Enforcement Directorate on Friday night time searched Rana's residence within the 'Samudra Mahal' advanced in Worli space and strict questions had been answered from him there too. <! –

                 Apart from this, so as to collect extra data and proof, raids had been carried out on the premises of Kapoor's three daughters in Delhi and Mumbai on Saturday. The ED is investigating whether or not Yes Bank promoter Rana Kapoor and his 2 daughters' dummy firm Urban Ventures bought Rs 600 crore from the scamsters.

In New Delhi, an ED official stated that DHFL's investigation revealed that the cash withdrawn by DHFL was obtained from Yes Bank. He stated that the aim of the investigation that occurred at Kapoor's residence on Friday night time was to seek out out any irregularities in Yes Bank's lending to DHFL.

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