Yes Bank : ED Raids Founder Rana Kapoor, Case Registered Under Money Laundering

New Delhi : npnews24 :  A look out notice has been issued against Yes Bank’s former CEO Rana Kapoor. At the same time, the team of Enforcement Directorate (ED) also reached his house in Mumbai for search. During this, his statement was also recorded.

The ED team has registered a case against Rana Kapoor under Money Laundering (PMLA). After this, ED searched Rana Kapoor’s house. The ED raided the house of Rana Kapoor regarding the DHFL scam. At the same time, statements of Rana Kapoor were also recorded.

In fact, DHFL is accused of doing a scam of about Rs 13,000 crore with the help of 79 fake companies and one lakh fake customers. Rana Kapoor’s house was searched in the same case. At the same time a look out notice has been issued against Rana Kapoor so that he does not leave the country and flee abroad. The ED team has searched Rana Kapoor’s house at a time when Yes Bank is going through a crisis.

Yes Bank was started in the year 2004 by Rana Kapoor and Ashok Kapoor, who were considered veteran professionals at that time. Rana Kapoor did his MBA from Rutgers University of New Jersey after studying from Shri Ram College of Commerce, Delhi. He worked at Bank of America for 16 years.

In fact, the private sector Yes Bank, started by many veteran professionals of the country, is stuck in crisis. The Reserve Bank of India, taking control of its board in its hands, has set a limit of withdrawal of up to Rs 50 thousand a month. The government has also started an exercise to overcome this crisis.

Re-structuring plan announced
RBI has announced a re-structuring plan for Yes Bank. This plan will be brought within a month. According to the information given by the government, SBI has shown interest in buying a stake in Yes Bank. Investor bank can take 49% stake for next three years. At the same time, it cannot reduce its stake below 26 percent