ED widens probe; raids founder's residence

Rana Kapoor

The Enforcement Directorate on Saturday widened the probe against Rana Kapoor carrying out raids at his residence and those of his three daughters. ED carried out searches at three locations in New Delhi and Mumbai.

Kapoor was also taken by the ED to its Mumbai office for questioning. Earlier, the agency had questioned YES Bank founder Rana Kapoor in connection with a money laundering probe against him and others, officials said. They said Kapoor was brought to the agency's office in the Ballard Estate area on Saturday afternoon. The ED had searched Kapoor's residence in the upscale Samudra Mahal complex in the Worli area on Friday night and had grilled him there, too.

The questioning of Kapoor is continuing, they said. The case against Kapoor is linked to the scam-hit DHFL as the loans lent by the bank to the company allegedly turned non-performing assets (NPAs), they said. Action against Kapoor is being conducted under the Prevention of Money Laundering Act (PMLA) by the ED. The central agency is also probing Kapoor's role in connection with the disbursal of loans to some corporate entities.

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