ED arrests Yes Bank founder Rana Kapoor under money laundering charges

Rana Kapoor was arrested around 3 am on Sunday under the provision of the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating in the probe.

Updated on: Mar 8, 2020, 14:35:51 IST

Hindustan Times, New Delhi | By Anonymous

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After being questioned for hours, the Enforcement Directorate (ED) arrested Yes Bank founder Rana Kapoor under money laundering case related to Dewan Housing Finance Corporation Ltd (DHFL) in the wee hours of Sunday.

Yes Bank founder Rana Kapoor with ED officials on his way to St. George Hospital in Mumbai. Rana Kapoor was arrested around 3 am on Sunday under PMLA Act. (Bhushan Koyande/HT Photo)

Rana Kapoor was arrested around 3 am on Sunday under the provision of the Prevention of Money Laundering Act (PMLA). Kapoor was allegedly not cooperating in the probe, a report in news agency PTI said, quoting officials.

He will be produced before a local court during the day on Sunday.

Also Watch | ED arrests Yes Bank founder Rana Kapoor under money laundering charges

The ED had taken crisis-hit Yes Bank founder to the Ballard Pier office in South Mumbai Saturday morning for questioning.

On Friday night, the ED had raided Kapoor’s residence and carried out searches a day after the Reserve Bank of India put Yes Bank under a moratorium and capped withdrawals for its depositors at Rs 50,000 till April 3.

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