Yes Bank Founder Charged With Corruption By CBI Court

March 09, 2020 11:27

Yes Bank Founder Charged With Corruption By CBI Court:- The founder and former managing director of Yes Bank, Rana Kapoor has been produced in the court after he was charged by corruption charges. Rana Kapoor has been sent to the custody of Enforcement Directorate till Wednesday by a Mumbai court. The Central Bureau of Investigation (CB) filed one more case on Rana Kapoor for the charges of corruption. ED arrested Rana on Sunday and he was interrogated after which he was produced in the court. His daughter was nabbed in Mumbai airport when she was about to fly away from the country.

Rana Kapoor broke down into tears in the Mumbai court last evening. It is heard that the fraud amount is said to be Rs 4300 crores and Rana Kapoor was not ready for the investigation. His lawyer told the court that Rana Kapoor was made a scapegoat. RBI took the control of Yes Bank after the crisis and State Bank of India (SBI) came out to buy 49% stake in the bank. Finance Minister Nirmala Sitharaman said that Yes Bank granted loans for several entities that ended up bankrupt.

It is heard that Rana Kapoor's three daughters Roshni Kapoor, Rakhee Kapoor and Radha Kapoor owned Dewan Housing ended up bankrupt. There are talks that Rana Kapoor diverted funds and the investigation on this is currently going on.