Yes Bank crisis: ED files fresh money laundering case against Rana Kapoor

The Enforcement Directorate has filed a fresh money laundering case against Yes Bank promoter Rana Kapoor and his wife for allegedly obtaining 307 crore rupees bribe from a realty firm.

The bribe money was used in purchasing a bungalow in Lutyens' Delhi at half the market price. ED officials said a case has been filed under the Prevention of Money Laundering Act (PMLA) on the basis of an FIR filed by the CBI on the matter recently. The agency alleged that the bribe was paid to the Kapoors for facilitating around 1,900 crore rupees loans from Yes Bank to the realty firm and delaying recovery.

Rana Kapoor is already facing an ED criminal case for receiving alleged



kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporates. This will be the second complaint against him under the Prevention of Money Laundering Act (PMLA).

The Central Bureau of Investigation had last week filed the FIR against Kapoor and his wife for allegedly obtaining 307 crore rupees bribe through the purchase of this bungalow from a realty firm at half the market price and facilitating around 1,900 crore rupees bank loans to it in return. Rana Kapoor, was arrested by the ED on March 8 and he is at present in the agency's custody till 20th of this month.