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Business News

Mar 08, 2020
9:16PM

CBI registers criminal case against Yes Bank founder Rana Kapoor

Tweeted by @AIR
The Central Bureau of Investigation, CBI has registered a case against Rana Kapoor, founder and CEO of Yes Bank, Dewan Housing Finance Limited (DHFL), its promoter Kapil Wadhawan and Doit Urban Ventures (India) Limited on charges of criminal conspiracy, cheating and corruption under relevant sections of Indian Penal Code and  Prevention of Corruption Act.

AIR correspondent reports that CBI has alleged that Rana Kapoor extended financial assistance to DHFL to get substantial undue benefits for himself and his family members via companies held by Kapoor and his family. The FIR was registered after the agency’s specialized unit dealing with bank fraud cases examined the matter. Kapoor is currently in the custody of Enforcement Directorate (ED) which arrested him during the wee hours today on money laundering charges. Kapoor was taken into ED custody after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs. The ED produced Kapoor before a holiday court this afternoon and told the court that it wants to conduct a thorough investigation into the matter and many people are under the scanner. The court then remanded Rana Kapoor in ED's custody till March 11.


Before Kapoor's arrest, he was questioned by the ED sleuths for over 20 hours after the central agency raided his residence on Friday night.



The ED, meanwhile, is also recording the statement of Rana Kapoor's wife and daughters.

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