+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Court summons Rana Kapoor, others on June 5 in Yes Bank case

May 23, 2020, 17:27 IST
PTI
Mumbai, May 23 () A special court here on Saturday took cogniznace of the charge sheet filed by the Enforcement Directorate (ED) in the Yes Bank scam and issued summons to the bank's co-founder Rana Kapoor and seven other accused.

The charge sheet, filed earlier this month, named as accused Rana kapoor, his wife, daughters and three firms associated with them among others.

Advertisement

After taking cognizance of the offence, the special court for Prevention of Money Laundering Act issued process (summons) against the eight accused, ED lawyer Hiten Venegaokar said.

The accused have been asked to appear before the court on June 5, he added.

The ED has already arrested Kapoor who is now in judicial custody.

The agency has pegged the proceeds of the crime in the case at Rs 5,050 crore.

Advertisement

It is primarily investigating Kapoor, his wife and three daughters over Rs 600 crore received by a firm allegedly controlled by them from an entity linked to the scam-hit Dewan Housing Finance Limited (DHFL).

Kapoor, his family members and others got benefits of Rs 4,300 crore through 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 loans given to a few big corporate groups that had turned into non-performing assets (NPAs).

The Central Bureau of Investigation (CBI) is also probing a related case. AVI KRK KRK

(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article