The Enforcement Directorate (ED) arrested Yes Bank founder Rana Kapoor under money laundering charges in the wee hours of Sunday. They said Kapoor was placed under arrest around 3 am under the provision of the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating in the probe.
Rana was questioned by the ED sleuths for over 20 hours after the central agency raided his residence on Friday night. He will be produced before a local court during the day to obtain custody, the officials said.
The arrest comes after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs.
Officials said Kapoor, 62, will be produced before a local court during the day to obtain custody.
The investigating officer of the case had recorded Kapoor’s statement under the PMLA when he was first interrogated on Friday night at his upscale residence in ‘Samudra Mahal’ complex in Worli area in Mumbai. He was brought to the ED office on Saturday noon for a fresh round of questioning.