New Delhi: Yes Bank Founder Rana Kapoor’s daughter Roshni, who was headed to London by the British Airways, was stopped from leaving the country at the Mumbai Airport on Sunday.
Earlier, Enforcement Directorate (ED) had issued a lookout notice against Rana Kapoor and his family including his wife Bindu Kapoor, daughters Rakhee Kapoor Tandon, Radha Kapoor and Roshni Kapoor.
Rana Kapoor was handed over to the Enforcement Directorate till March 11 by Mumbai’s Special Holiday Court on Sunday.
While making a request for five-day custody of Kapoor, the ED made a “verbal submission” to the court detailing the alleged financial irregularities of Yes Bank and DHFL.
Earlier, Enforcement Directorate (ED) had issued lookout notice against #YesBank founder Rana Kapoor and his family including his wife Bindu Kapoor, daughters Rakhee Kapoor Tandon, Radha Kapoor and Roshni Kapoor. https://t.co/EV84LX0mYp
— ANI (@ANI) March 8, 2020
As the ED believes that Kapoor took advantage of his position to benefit his daughters’ companies, hence custody of Kapoor is needed to investigate his and his daughters’ role in the matter, said the lawyer representing ED.
The agency argued in court that many family companies are involved and there are also some cases of quid pro quo made out of the case.
Rana Kapoor, who was taken to the ED office for questioning under the Prevention of Money Laundering Act (PMLA) on Saturday, was arrested in the wee hours of Sunday.
The agency had conducted raids at Kapoor’s residence located at ‘Samudra Mahal’ residential tower in Mumbai on Friday and registered a case under the PMLA against him.
On Thursday, the Reserve Bank of India (RBI) had said a moratorium has been imposed on Yes Bank, stressing that the bank’s financial capability has undergone a steady decline largely due to the inability of the bank to raise capital.
During the period of moratorium, the Yes Bank Ltd will not, without the permission in writing of the RBI, make in the aggregate, payment to a depositor of a sum exceeding Rs 50,000 lying to his credit in any savings, current or any other deposit account. (ANI)
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