Yes Bank Crisis: Rana Kapoor to Remain in ED Custody Till 20 March

Yes Bank Founder Rana Kapoor remanded to ED custody till 20 March.

File photo of Yes Bank founder Rana Kapoor. 

(Photo Courtesy: PTI)

A special Enforcement Directorate court extended Yes Bank founder Rana Kapoor’s custody to 20 March. Kapoor was presented in court on 16 March in connection with the Yes Bank fraud.

While arguing in court on 11 March, the ED had claimed that according to their probe, loans worth Rs 30,000 crore were given by Yes Bank to various entities when Rana Kapoor was in the panel.

They also added that about Rs 20,000 crore sanctioned out of this has already turned into NPAs. The sanctioning of these loans from the point of view of quid pro quo or irregularities or diversion is being investigated. ED wanted further custody of him as they wanted to confront Kapoor with other key persons related to this case.

Rana Kapoor’s lawyer had argued that he was being made a scapegoat in the case. He claimed that Kapoor was in London for four months but returned to India as he was negotiating with senior RBI and finance ministry officials over Yes Bank.