PMLA case: ED arrests YES bank co-founder Rana Kapoor

The Enforcement Directorate (ED) on Wednesday arrested co-founder of YES Bank Rana Kapoor in a money laundering case. Kapoor was arrested under the Prevention of Money Laundering Act (PMLA).

He was arrested in a case pertaining to the sanctioning of a Rs 200 crore loan to Mack Star Marketing Pvt.

In a setback for Yes Bank founder Rana Kapoor, the Bombay High Court on Monday rejected his application seeking bail in the multi-crore money laundering case.

Kapoor is one of the prime accused in the Yes Bank scam apart from the promoters of DHFL group - Dheeraj and Kapil Wadhawan.

Notably, the ED has claimed that Kapoor had approved hefty loans to DHFL group promoters and in return, received kickbacks to the tune of Rs 5,050 crore. However, Kapoor disputed the amount and said that the agency has already attached his properties, which are way beyond the amount of Rs 5,050 crore.

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