The Enforcement Directorate has prolonged the scope of investigation within the case of Yes Bank founder Rana Kapoor. On Saturday, investigating company officers additionally searched the houses of Rana Kapoor's three daughters in Mumbai and Delhi. Their names are Rakhi Kapoor Tandon, Roshni Kapoor and Radha Kapoor. The questioning of Rana Kapoor continued on Saturday. They are accused of cash laundering. Sources say that their daughters have additionally acquired the cash from the rip-off.
Sources stated Rana Kapoor was delivered to the Enforcement Directorate (ED) workplace in Mumbai's Ballard Estate on Saturday afternoon. ED officers additionally searched Rana's home in Mumbai's Worli, Samudra Mahal, on Friday night time and interrogated him. <! –
This inquiry lasted nearly all the night time. The ED had additionally issued a lookout round within the identify of Rana Kapoor, in order that he couldn’t depart the nation.
The matter is said to DHFL
The case in opposition to Rana Kapoor is said to the scandal involving DHFL. Yes Bank had given mortgage to this firm, which grew to become NPA. Action is being taken in opposition to them below the Moneylondering Act (PMLA). The investigating company can be investigating Rana's function in lending to some firms. It is alleged that the bribe quantity was deposited in his spouse's account in lieu of this mortgage. An official stated that a number of suspicious paperwork have been discovered within the search. The company needs to search out out Rana Kapoor's relationship with the promoters of DHFL and different firms.
Allegations of arbitrary mortgage disbursement
DHFL is accused of scamming about Rs 12,500 crore by way of 80 shell firms and one lakh pretend prospects. This case is of 2015. A DHFL investigation revealed that the cash that the corporate had rigged got here from Yes Bank. It is alleged that Rana Kapoor distributed coarse loans arbitrarily by way of Yes Bank. The process for granting and realizing the mortgage was determined accordingly. These loans got by Rana Kapoor on the idea of their private relationships.
Wires are additionally linked with UP Power Corporation
Sources stated that ED can be investigating some extra irregularities. This contains the PF rip-off of Uttar Pradesh Power Corporation. The CBI has just lately taken over the investigation into the Rs 2,267 crore rip-off. UP Power's PF cash was invested in DHFL.
Rana Kapoor 2004 Yes Bank was began in
Yes Bank was began within the yr 2004 by Rana Kapoor and Ashok Kapoor, who have been thought-about legendary professionals at the moment. Rana Kapoor did his MBA from Rutgers University in New Jersey after learning at Shri Ram College of Commerce, Delhi. He labored at Bank of America for 16 years.
Reserve Bank took over operations
The Reserve Bank has taken over the operations of Yes Bank after its disaster. It has mounted a withdrawal restrict of as much as 50 thousand rupees a month for account holders. Finance Minister Nirmala Sitharaman stated on Friday that the federal government has requested the Reserve Bank to search out out what went mistaken with Yes Bank and it ought to repair accountability on the particular person stage.