National News

Yes Bank founder Rana Kapoor taken to ED office for questioning

On Friday night, the ED had raided Kapoor’s residence and carried out searches a day after the Reserve Bank of India put Yes Bank under a moratorium and capped withdrawals for its depositors at Rs 50,000 till April 3.

According to an official, the ED seized records and documents from his residence and office premises. The agency is investigating alleged kickbacks received to Rana’s close relative over sanctioning of loans.

Crisis-hit Yes Bank founder Rana Kapoor was taken to the Enforcement Directorate’s (ED) to the Ballard Pier office in South Mumbai Saturday morning for questioning.

Kapoor was questioned in connection with the bank’s exposure to troubled realty firm Dewan Housing Finance Corporation (DHFL) that is suspected to have contributed to the bank’s ballooning non-performing assets (NPAs) and which led to the RBI’s intervention on Thursday.

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