Two days after the Reserve Bank of India imposed a moratorium on Yes Bank and superseded its Board of Directors, the Enforcement Directorate (ED) on Saturday took the bank's founder Rana Kapoor to its office for questioning regarding the recent crisis that has hit the troubled bank.
A day earlier, ED had raided Kapoor's Mumbai residence, located at 'Samudra Mahal' residential tower in the city, and registered a case against him under the Prevention of Money Laundering Act (PMLA).
PTI reported that the ED is probing Kapoor's role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks that were reportedly received in his wife's accounts.
Officials reportedly said some other alleged irregularities are also under the agency's scanner.
Earlier, Union Finance Minister Nirmala Sitharaman had said that investigative agencies and SEBI noticed malpractices by top executives of Yes Bank in March 2019.
Incidentally, Kapoor was forced to quit as the CEO of the bank in January 2019 after the RBI rejected the board’s recommendation to extend his term by three years.
On Thursday, RBI had imposed a moratorium on the troubled private lender for a month and capped the withdrawal limit at Rs 50,000, stressing that the bank's financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.