Yes Bank’s Rana Kapoor to confront the Mumbai Court

CBI files FIR against the YES Bank CEO

This Sunday, March 9th, Rana Kapoor was arrested after 24 hours of questioning and also including stopping his daughter Roshini Kapoor from leaving for London at the Airport gates. The FIR filed by CBI was the aftereffect of Execution Directorate investigation which led Kapoor to be produced in the Mumbai Court later this Sunday.

It is reported that Kapoor’s wife, Bindu, and their daughters owned several umbrella companies that were directly or indirectly controlled by the former CEO. The companies were created for the corporate kickbacks that the entities received after being unable to disburse the astronomical loans. The NPA’s of Yes Bank was raised because the private banks often sell their bad debts to other potential saviour entities to save themselves from the eyes of RBI.