Yes Bank Crisis: CBI raids at Rana Kapoor's house, 6 other locations
The CBI carried out searches at seven locations on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL, officials said. Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL promoter for round tripping of funds where loans from Yes Bank to DHFL landed in companies owned by daughters of Kapoor, DoIT Urban Ventures (India) Pvt Ltd, they said.
Rana Kapoor was arrested by the ED after hours of questioning and is in ED custody at the moment.
Yes Bank Crisis LIVE Updates
2.00 PM: S&P Global Ratings on Monday said a quick resolution of Yes Bank's insolvency will keep India's banking sector contagion at bay, but as credit markets tighten there could be a possibility of wider economic pain in the country.1:50 pm: Rs 50,000 cap on Yes Bank depositors may be lifted by end of week, says Prashant Kumar
“There is absolutely no worry for depositors in the bank. Your money is absolutely safe. The moratorium could be lifted in a few weeks,” crisis-hit Yes Bank’s administrator Prashant Kumar told CNBC-TV18.
He added, “First priority for us is customers. ATMs of other banks are available to Yes Bank customers since Saturday. Our target is to make all banking services available at the earliest.”
1:20 pm: How did Priyanka Gandhi sell a painting they never owned? Amit Malviya asks
Every financial crime in India has deep link with the Gandhis.
— Amit Malviya (@amitmalviya) March 8, 2020
Mallya used to send flight upgrade tickets to Sonia Gandhi. Had access to MMS and PC. Is absconding.
Rahul inaugurated Nirav Modi’s bridal jewellery collection, he defaulted.
Rana bought Priyanka Vadra’s paintings... pic.twitter.com/qdN3hjnTWG
12:11 pm: CBI raids DoIT Ventures, the firm belonging to Kapoor's daughters, Roshini Kapoor, Radha Kapoor Khanna and Raakhe Kapoor Tondon.
11:46 am: CBI carries out searches at 7 locations in Mumbai
The CBI carried out searches at seven locations, including Rana Kapoor's house on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL.
10:16 am: Yes Bank shares zoom over 30 per cent
Shares of Yes Bank on Monday zoomed over 30 per cent after State Bank of India (SBI) said it will pick up 49 per cent stake in the cash-strapped lender for Rs 2,450 crore.
10:00 am: Company does not hold any additional tier I bonds of Yes Bank, says Shriram Transport
Shriram Transport Finance Company on Monday clarified that it does not hold any additional tier-I bonds of cash-strapped Yes Bank. Clarifying to a news item, Shriram Transport Finance in a regulatory filing said that the "company does not hold any additional tier I bonds of Yes Bank Ltd".
"The instruments qualifying as additional tier-1 capital, issued by Yes Bank under Basel-III framework, shall stand written down permanently, in full, with effect from the appointed date," the draft of the 'Yes Bank Ltd. Reconstruction Scheme, 2020', said.
Also Read: All the latest news, photos and videos on Yes Bank crisis