YES Bank case: ED chargesheets Rana Kapoor, family in Rs 5,050 crore fraud case
ED has named Rana Kapoor, his wife Bindu Kapoor, daughters Roshni Kapoor, Radha Kapoor and Rakhee Kapoor, along with Morgan Credits, Yes Capital and Rab Enterprises in its charge sheet
- May 7, 2020,
- Updated May 7, 2020 2:14 AM IST
Enforcement Directorate (ED) has filed a charge sheet against Rana Kapoor in connection with the YES Bank fraud case. The charge sheet filed at the PMLA Court in Mumbai includes names of the YES Bank co-founder, his wife Bindu Kapoor, his daughters Roshni Kapoor, Radha Kapoor and Rakhee Kapoor, along with Morgan Credits, Yes Capital and Rab Enterprises.
Kapoor, former MD and CEO of YES Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He has been accused of receiving kickbacks in lieu of sanctioning loans to certain firms.
YES Bank share price falls over 5% ahead of Q4 earnings
Three days before Kapoor's arrest, on March 5, Reserve Bank of India had seized YES Bank as the private lender failed to raise funds to stay afloat. Under a reconstruction scheme, the central bank got several financial institutions, including SBI, ICICI Bank and HDFC, to save the private lender.
Enforcement Directorate (ED) has filed a charge sheet against Rana Kapoor in connection with the YES Bank fraud case. The charge sheet filed at the PMLA Court in Mumbai includes names of the YES Bank co-founder, his wife Bindu Kapoor, his daughters Roshni Kapoor, Radha Kapoor and Rakhee Kapoor, along with Morgan Credits, Yes Capital and Rab Enterprises.
Kapoor, former MD and CEO of YES Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He has been accused of receiving kickbacks in lieu of sanctioning loans to certain firms.
YES Bank share price falls over 5% ahead of Q4 earnings
Three days before Kapoor's arrest, on March 5, Reserve Bank of India had seized YES Bank as the private lender failed to raise funds to stay afloat. Under a reconstruction scheme, the central bank got several financial institutions, including SBI, ICICI Bank and HDFC, to save the private lender.