Daughter Of Yes Bank Founder Arrested At Mumbai Airport

Roshni Kapoor, daughter of Yes Bank founder Rana Kapoor, was apprehended at the Mumbai airport while she’s boarding a flight to London. The Enforcement Directorate (ED) has already issued a lookout notice against her and other family members of Rana Kapoor.

Rana Kapoor arrested

On Sunday, the Yes Bank founder was arrested and sent to the custody of ED till March 11 by a Mumbai court. He was arrested on the charges of money laundering after hours of investigation and searches at the residents of his daughters – Roshni Kapoor, Rakhee Kapoor Tandon, and Radha Kapoor – inDelhi and Mumbai.

Allegations on Rana Kapoor

In the court, the ED lawyer Sunil Gonsalves alleged that Yes Bank had bought debentures of Dewan Housing and Finance Ltd. worth Rs. 3,700 crore. Dewan Housing had granted a loan of Rs. 600 crore to Doit, a company owned by daughters of Rana Kapoor.

The lawyer further alleged that crime of Yes Bank was amounted to Rs. 4,300 crore. Also, that Rana Kapoor had refused to cooperate with the investigation.

Rana Kapoor denied allegations

Zain Shroff, lawyer of Rana Kapoor, argued in the court that Kapoor was made a scapegoat due to public outrage against Yes Bank after the Reserve Bank of India (RBI) took action against the bank.

RBI took control of Yes Bank placed it under a moratorium. Also, it put a withdrawal limit of Rs. 50,000 on Yes Bank. RBI is working the revival of Yes Bank. In the meantime, SBI said that it would buy a 49% stake in the beleaguered bank.

Source: https://bit.ly/2Izs8H8

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