Mumbai: A news agency report said a company linked to Kapoor’s daughter had received loans from DHFL. It said the probe is likely to look at the possible quid pro quo in loans availed and granted by DHFL.
A company linked to Kapoor’s daughter is under ED’s radar. Yes Bank founder Rana Kapoor’s daughter Roshini was stopped at Mumbai airport while attempting to board a flight to London on Sunday after her father was arrested by the Enforcement Directorate in the small hours in a case of alleged financial irregularities, including suspected money laundering, said a top ED official.
The ED had issued lookout notices against Rana Kapoor and his family members including his wife Bindu Kapoor, daughters Rakhee Kapoor Tandon, Radha Kapoor and Roshni Kapoor.
ANI reported that Roshini was stopped before she could board a British Airways flight to London.
Earlier today, after his arrest around 3 am, Kapoor was sent to ED’s custody till April 11, where he is likely to be questioned over loans granted by Yes Bank to Dewan Housing Finance Limited (DHFL) which turned into non-performing assets (NPAs) along with other suspicious loans that are believed to have contributed to the bank’s present financial crisis. A news agency report said a company linked to Kapoor’s daughter had received loans from DHFL. It said the probe is likely to look at the possible quid pro quo in loans availed and granted by DHFL.
Kapoor is reported to have defended the DHFL loan to a company linked to his daughter in a Mumbai court on Sunday. Central Bureau of investigation also registered a case against Kapoor on Sunday to probe possible corruption and criminal conspiracy.
Rana’s arrest was carried out after he was questioned for hours at his Mumbai residence on Friday evening.
Yes Bank is undergoing a financial crunch which has led to intervention by the Reserve Bank of India (RBI) and the Indian government. A moratorium has been imposed on the bank and the RBI has appointed an administrator to see it through the crisis period. The bank is battling NPAs and has failed to raise capital. RBI has barred withdrawal of more than Rs 50,000 from bank deposits for a period of 30 days which ends on April 3 and has floated a draft plan to infuse fresh funds in the bank.
