The Enforcement Directorate arrested Yes Bank founder Rana Kapoor early on Sunday morning under money laundering charges in connection with...
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor early on Sunday morning under money laundering charges in connection with the bank’s loans to the scam-hit Dewan Housing Finance Limited, PTI reported. The Reserve Bank of India had placed Yes Bank under a moratorium on Thursday and took over its board.
Officials said Kapoor was arrested around 3 am on Sunday under the provision of the Prevention of Money Laundering Act as he was reportedly not cooperating in the investigation.
He will be produced before a local court later in the day.
Kapoor was taken to the investigating agency’s office in Mumbai for questioning on Saturday. Searches were also conducted at the residences of his three daughters. The ED had also questioned Kapoor till late in the night on Friday at his Worli residence over the bank’s association with DHFL.
Meanwhile, Yes Bank on Saturday said its customers can now withdraw money from ATMs. “You can now make withdrawals using your YES BANK Debit card both at YES BANK and other bank ATMs,” the bank tweeted. “Thanks for your patience.”
The central bank had imposed a limit of Rs 50,000 on withdrawals to protect depositors.
The RBI had said it took the decision due to the “absence of a credible revival plan, and in public interest...
