ED registers money laundering case against Yes Bank founder, raids house



The Enforcement Directorate on Friday registered a money laundering cases against the founder and former managing director of Yes Bank Ltd, Rana Kapoor. This comes after the Reserve Bank of India on Thursday late evening put the private sector lender under moratorium and suspended the bank’s board for 30 days. The RBI also capped withdrawal limit at ₹50,000 for the one-month period. The PMLA case by ED against Kapoor is a continuation of its investigations against DHFL where it has found fund diversion to the tune of ₹12,733 crore to 80 alleged shell entities using 1 lakh fake borrowers. These transactions date back to 2015.

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