ED questions Yes Bank founder Rana Kapoor – Times of India, The Times of India

NEW DELHI: Crisis-hit Yes Bank’s founder Rana Kapoor was brought to the Enforcement Directorate’s (ED) office in Mumbai for questioning in connection with a money-laundering case against him.
The central agency is probing Kapoor’s role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks reportedly received in his wife’s accounts.
As per ED, the case against Kapoor is linked to the DHFL (Dewan Housing Finance Corporation Ltd) probe as the loans lent by the bank to the company turned NPAs (non-performing assets) .
Officials stated that suspicious transactions between the bank and DHFL run into over Rs 5, 000 crore.
On late Friday evening, the ED raided Kapoor’s Samudra Mahal residence in Worli, Mumbai.
The move comes a day after the Reserve Bank of India (RBI) placed Yes Bank under moratorium and restricted withdrawals at Rs 50, 000, stressing that the Bank’s financial capability had undergone a steady decline largely due to its inability to raise capital.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
(With agency inputs)