Yes Bank crisis: ED takes custody of Yes Bank founder Rana Kapoor till March 11

ED arrested Rana Kapoor from his residence on Sunday.

Crisis-hit Yes Bank’s founder Rana Kapoor was sent to Enforcement Directorate’s custody till March 11 by a special holiday court in Mumbai on Sunday, hours after his arrest by the agency.

A Mumbai Court has sent Yes Bank founder Rana Kapoor to Enforcement Directorate custody till 11th March. (HT photos)

The central agency had arrested Rana Kapoor around 3am on Sunday under the Prevention of Money Laundering Act (PMLA) related to Dewan Housing Finance Corporation Ltd (DHFL). Before that, he was questioned for hours.

ED had taken the Yes Bank founder to the Ballard Pier office in south Mumbai on Saturday morning for questioning.

Kapoor’s house was also raided by the agency on Friday night, a day after the Reserve Bank of India (RBI) put Yes Bank under a moratorium and capped withdrawals for its depositors at Rs 50,000 till April 3