Rana Kapoor, founder of YES Bank, was arrested by the Directorate of Integration and Recovery (ED) on Wednesday (January 27). (Rana Kapoor YES Bank)
Mumbai: YES Bank founder Rana Kapoor was arrested by the Directorate of Integration and Recovery (ED) on Wednesday (January 27). He is said to have been arrested for investigating the Mac Star Group / PMC Bank scam . He is the third person arrested in the case. The ED had earlier arrested Mehul Thakur and Madan Gopal Chaturvedi on January 23. Rana Kapoor is currently lodged in the Taloja Jail in Navi Mumbai.
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Rakesh Wadhwan and Sarang Wadhwan, directors of Housing Development and Infrastructure Limited (HDIL), are the main accused in the PMC Bank scam. He is accused of embezzling Rs 6,500 crore. Rana Kapoor, the founder of YES Bank, has been under investigation in the same case for the last few days.
Rana Kapoor’s entire family is under suspicion of financial malpractice in Yes Bank. Rana Kapoor has several companies named after his wife Bindu Kapoor, his three daughters Rakhi, Roshni and Radha. It is alleged that Rana Kapoor’s wife and daughters were bribed in exchange for illegal C4J.
Meanwhile, Yes Bank was founded in 2004 by Rana Kapoor and Ashok Kapoor. After that, Rana is accused of giving large loans to people close to him through Yes Bank. In 2017, Yes Bank had lent Rs 6,355 crore. Kapoor is currently under investigation in the same loan case.
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