7 months ago
1
Former Yes Bank CEO Rana Kapoor is being questioned contiguous arsenic a portion of wealth laundering investigations against Anil Ambani radical companies astatine the Enforcement Diretorate headquaters, an ED authoritative said.
The connection is being recorded nether the Prevention of Money Laundering Act (PMLA), they said.
The probe is related to the play betwixt 2017-2019 erstwhile Yes Bank allegedly invested ₹2,965 crore successful Reliance Home Finance Ltd (RHFL) instruments and ₹2,045 crore successful Reliance Commercial Finance Limited (RCFL) instruments. By December 2019, these had go non-performing investments, the bureau claimed.
The outstanding was ₹1,353.5 crore for RHFL and ₹1,984 crore for RCFL, and the probe recovered that the 2 companies received nationalist funds worthy much than ₹11,000 crore, according to the ED.
"Before Yes Bank invested this wealth successful Reliance Anil Ambani radical companies, Yes Bank had received immense funds from erstwhile Reliance Nippon Mutual Fund.
"As per SEBI regulations, Reliance Nippon Mutual Fund could not invest/divert funds straight successful Anil Ambani radical concern companies owed to conflict-of-interest rules," the ED said.
Therefore, nationalist wealth successful communal money schemes was routed indirectly by them and the way ran done the Yes Bank's exposures, the bureau claimed.
(With PTI inputs)
