ED arrests Yes Bank founder Rana Kapoor

ED arrests Yes Bank founder Rana Kapoor
Enforcement Directorate (ED) has arrested Yes Bank founder Rana Kapoor in connection with a money-laundering probe against him and others. Rana Kapoor was arrested after a second day of interrogation by the ED in Mumbai. He was questioned for over 15 hours yesterday and was arrested early this morning.
His statements have been recorded by the agency under the Prevention of Money Laundering Act (PMLA). The case against Kapoor is linked to the scam-hit Dewan Housing Finance Corporation (DHFL) as the loans given by the Yes bank to the company allegedly turned non-performing assets (NPAs).
A 600-crore rupees worth loan extended by the DHFL to an entity is also at the centre of the ED probe. The ED action came after the Reserve Bank of India on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at 50,000 rupees per account, and superseded the board of the private sector lender with immediate effect.


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