Скачать или смотреть YES Bank Crisis: Rana Kapoor To Stay In ED Custody Till March 20

A special court in Mumbai on Monday extended the custody of Rana Kapoor, co-founder of Yes Bank, till 20 March, after the Enforcement Directorate (ED) claimed the case is a large-scale fraud involving public money.

“We are trying to find out the illegal transactions and the layering for such loans," additional solicitor general Anil Singh, appearing for the investigative agency, informed the prevention of money laundering (PMLA) court. While the ED sought a six-day custody, it was allowed a four-day custody till 20 March.

Kapoor, his family members and others are accused of laundering ₹4,300 crore by receiving alleged kickbacks in exchange for lending heavily to big borrowers, loans which soured later.

According to ED, Yes Bank gave loans of ₹202 crore in tranches till 2016 to Mack Star Marketing, a joint venture between Housing Development Infrastructure Ltd and Ocean Deity Investment Holdings to redevelop a building that was already constructed two years earlier at a cost of ₹100 crore.

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