Yes Bank – The Full Story Uncovered
This much leniency in sanctioning of bank loans under Rana Kapoor brew up the suspicion of RBI and ED – Enforcement Directorate. ED grilled Rana Kapoor in the investigation for over 20 hours and then arrested him for a probe in his involvement in alleged criminal conspiracy with the companies that Yes Bank has sanctioned loan to ED says that his crime amounts to $581 million. ED also said that Rana Kapoor did not cooperate during the initial investigation and so arresting him became necessary.
He is likely to remain in police custody till March 16. Not only Rana Kapoor but later his whole family including his wife and three daughters were booked for money laundering case in Yes Bank Crisis. And last Monday, CBI raided several locations in Mumbai to find out evidence against Rana Kapoor and his family.
According to ED, Rana Kapoor sanctioned loans to these stressed companies even after knowing about their pathetic condition in lieu of bribes that he received in bank accounts of shell companies of his family members. Even the bank was fudging its balance sheet and was giving wrong figures of its liabilities to RBI for monitoring.
