ED files charge sheet against Rana Kapoor in Yes Bank case
MUMBAI: The Compliance Directorate (DE) filed a charge sheet against the Yes Bank co-founder, arrested on money laundering charges, in a special court on Wednesday.
Kapoor, a former managing director and CEO of Yes Bank, was arrested by ED on March 8 under the Money Laundering Prevention Act (PMLA).
He is accused of sanctioning loans to certain companies against bribes.
Among other things, the central investigative agency is investigating Rs 600 crore received by a company allegedly controlled by Kapoor, his wife and their three daughters from a limited scam-related entity (DHFL).
Kapoor and his family members allegedly made Rs 4.3 billion crore from the companies they controlled as bribes for penalizing huge loans, the ED alleged.
He is also accused of receiving bribes for facilitating the recovery of loans made to some large corporate groups that had become unprofitable assets (NPA).