Yes Bank crisis: Anil Ambani files adjournment plea before ED in probe against Rana Kapoor

Reliance Group Chairman Anil Ambani has filed an adjournment application and sought more time to appear before the Enforcement Directorate (ED) in connection with the ongoing money laundering probe related to Yes Bank co-founder Rana Kapoor. The ED had summoned Ambani in connection with the probe against Kapoor and his family members. In a statement issued last week, the Reliance Group had denied any links with Kapoor, his family or entities controlled by them.

Enforcement Directorate officials: Reliance Group Chairman Anil Ambani has filed an adjournment application and has sought more time to appear before the Enforcement Directorate after ED summoned him in connection with its probe against Yes Bank founder Rana Kapoor and others. pic.twitter.com/vjT69pHyNB

— ANI (@ANI) March 16, 2020

“Reliance Group states it has NIL direct or indirect exposure to Rana Kapoor, Former CEO of YES Bank, or his wife or daughters, or any entities controlled by Rana Kapoor or his family. Reliance Group says its entire exposure to Yes Bank is fully secured and transacted in the ordinary course of business,” said the statement issued on Wednesday. “Reliance Group is committed to honour repayments of all its borrowings from Yes Bank Ltd through its various asset monetisation programmes which are all at advanced stages,” it added. Earlier this month, the ED had arrested Rana Kapoor as he was reportedly not cooperating in the probe. The agency has been granted an extension to keep Kapoor under custody till 16 March by a special court under the Prevention of Money Laundering Act (PMLA). .