Rana Kapoor

Photo Credit: The Hindu

Yes Bank crisis: ED registers money laundering case against Rana Kapoor

The Enforcement Directorate on Friday registered a money laundering cases against the founder and former managing director of Yes Bank Ltd, Rana Kapoor.

“The ED is currently conducting searches at his Worli (Mumbai) based residence in connection with loans granted to DHFL (Dewan Housing Finance Ltd),” said an ED official confirming the developments.

This comes after the Reserve Bank of India on Thursday late evening put the private sector lender under moratorium and suspended the bank’s board for 30 days. The RBI also capped withdrawal limit at ₹50,000 for the one-month period.

Source: Livemint