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ED files charge sheet against Rana Kapoor in Yes Bank case

PTI   

ED files charge sheet against Rana Kapoor in Yes Bank case
India1 min read
Mumbai, May 6 () The Enforcement Directorate (ED)on Wednesday filed a charge sheet against Yes Bank co-founderRana Kapoor, arrested on money laundering charges, in aspecial court here.

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

He is accused of sanctioning loans to certain firmsagainst kickbacks.

Among other things, the central probe agency isinvestigating Rs 600 crore received by a company allegedlycontrolled by Kapoor, his wife and three daughters from anentity linked to the scam-hit Dewan Housing Finance Limited(DHFL).

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

He is also accused of receiving bribes for going easyon recovery of loans given to some big corporate groups whichhad turned into non-performing assets (NPAs). AVIKRK KRK

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