Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges

The Enforcement Directorate (ED) on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court here

Press Trust of India May 06, 2020 17:24:39 IST
Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges

Mumbai: The Enforcement Directorate (ED) on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court here.

Kapoor, the former MD and CEO of Yes Bank, was arrested by the ED on 8 March under the Prevention of Money Laundering Act (PMLA).

Yes Bank fraud case Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges

A file photo of Rana Kapoor. AFP

He is accused of sanctioning loans to certain firms against kickbacks.

Among other things, the central probe agency is investigating Rs 600 crore received by a company allegedly controlled by Kapoor, his wife and three daughters from an entity linked to the scam-hit Dewan Housing Finance Limited (DHFL).

Kapoor and his family members allegedly got benefits worth Rs 4,300 crore through the companies controlled by them as kickbacks for sanctioning huge loans, the ED has alleged.

He is also accused of receiving bribes for going easy on the recovery of loans given to some big corporate groups which had turned into non-performing assets (NPAs).

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