Yes Bank founder Rana Kapoor who was earlier arrested under money laundering charges, has been remanded in the Enforcement Directorate's custody till March 11 by a Mumbai court on Sunday.
Kapoor, 62, was arrested by the ED under provisions of the Prevention of Money Laundering Act (PMLA) around 3 am on Sunday as he was allegedly not cooperating in the probe, officials earlier said.
The ED produced Kapoor before a holiday court which remanded him in the probe agency's custody till March 11.
Bindu Kapoor, Rana's wife also arrived at Enforcement Directorate's office after her husband was arrested by the probe agency.
The ED officials are likely to quiz Bindu in connection with the case.
The ED told the court that the role of some companies run by Kapoor's family members needs to be established and they need to confront all these people with the accused.
The defence lawyer, however, said Kapoor has been selectively targeted by the ED and he is cooperating with the probe agency.
Kapoor was arrested 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.
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.
