Yes Bank founder Rana Kapoor arrested under money laundering charges

Mumbai : After questioning him for hours, the Enforcement Directorate arrested Yes Bank founder Rana Kapoor on Sunday morning under money laundering case related to Dewan Housing Finance Corporation Ltd (DHFL).

He was arrested at around 3 Am under the provision of the Prevention of Money Laundering Act (PMLA). According to officials quoted in the PTI news report, Kapoor was not cooperating with the investigating officials.

He will be produced before a local court on Sunday.

The ED had taken crisis-hit Yes Bank founder to the Ballard Pier office in South Mumbai Saturday morning 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.