Yes Bank: Sessions court granted 3 days remand of Rana Kapoor

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New Delhi, 8 March 2020 Sunday

Activities Directorate (ED) arrested Rana Kapoor, founder of Yes Bank. Mumbai Sessions Court remanded Enforcement Directorate (ED) for three days to Yes Bank founder Rana Kapoor. ED sought 5-day remand of Rana Kapoor Rana Kapoor remanded in money laundering case

It is noteworthy that, on Friday evening and Saturday two days in a row, the residence of Rana Kapoor was put under investigation after investigation.

Yes Bank of India, one of the largest private finance companies in the country, was questioned by the malpractices by top leaders who had a serious backlog in the financial situation.

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).

It may be recalled that the RBI had asked Rana Kapoor to step down in August 2018. He then had to step down on January 31, 2019. On Friday, the investigating agency issued a lookout notice against Rana.

Then on Saturday, Rana arrived at the ED office in Mumbai. ED's team along with Rana Kapoor was questioning till late Saturday night. ED raided the residence of Rana Kapoor and the residence of their three daughters.

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