Ex-Yes Bank CEO Rana Kapoor grilled in money laundering case
Rana Kapoor, who once led Yes Bank, was questioned by the Enforcement Directorate (ED) over alleged money laundering tied to big loans and business deals with Anil Ambani's companies.
Between March 2017 and March 2018, Yes Bank's investments in Ambani's firms nearly doubled—from ₹6,000 crore to ₹13,000 crore—but much of that turned into bad loans after March 2018.
The fallout? Losses of around ₹3,300 crore and serious questions about how these deals were approved.
What the ED is saying—and where things stand
The ED claims private meetings between Kapoor and Ambani led to unusual loan approvals that benefited Kapoor's family businesses.
They say public funds worth ₹11,000 crore were funneled through Yes Bank, circumventing SEBI conflict-of-interest rules.
As part of their probe, authorities have frozen over ₹10,000 crore in assets linked to Ambani's group.
Meanwhile, this isn't Kapoor's first run-in with investigators—he's already been arrested before for other Yes Bank-related cases involving his family.
The investigation is still ongoing.