New Delhi: The Enforcement Directorate registered a money laundering case against Yes Bank co-founder Rana Kapoor under the Prevention of Money Laundering Act late on Friday. ED officials conducted raids at his Worli residence too. Also Read - YES Bank, Reliance General Insurance Launch COVID-19 Health Policy
The development came a day after the Reserve Bank of India placed a moratorium on the bank. Assuring investors, account-holders, employees that their interest will be guarded, finance minister Nirmala Sitharaman said that the bank management indulged in several irregularities. Also Read - Yes Bank Gets New Board, Decides to Raise Additional Rs 5,000 Crore
According to ED officials, Kapoor was being questioned in connection with Diwan Housing Finance Corporation money laundering case. In her press conference, Nirmala Sitharaman mentioned DHFL’s name as a stressed firm, which got funding from Yes Bank. Also Read - Rishi Kapoor Posts Prayer in Favour of Kanika Kapoor-Yes Bank Founder Rana Kapoor, Says 'Kuch “Kapoor” Logon pe Time Bhaari Hai'
“The exposure of Yes Bank to some of the very stressed corporates has been since before 2014, like Anil Ambani group, Essel group, DHFL, IL&FS and Vodafone,” the minister said.
A look-out notice has also been issued to prevent Kapoor from fleeing India.
In 2018, it was reported that Rana Kapoor bought a Rs 128-crore house next to Mukesh Ambani’s Antilla. At that time, he had said that he didn’t buy the flat, his family did.