<p class="title">After two days of grilling, Yes Bank founder Rana Kapoor has been arrested by the Enforcement Directorate.</p>.<p class="title">The 62-year-old Kapoor has been booked under Prevention of Money Laundering Act (PMLA).</p>.<p class="title">Kapoor was formally arrested in the wee hours of Sunday.</p>.<p class="title">He would be produced in a holiday court later in the day.</p>.<p class="bodytext"><a href="https://www.deccanherald.com/business/business-news/yes-bank-crisis-live-yes-bank-to-announce-quarterly-results-for-december-quarter-on-march-14-811048.html#1" target="_blank"><strong>Follow live updates of Yes Bank developments here</strong></a></p>.<p class="bodytext">Over the last two days, Kapoor was grilled for his and his family's links with troubled-and-controversial realty firm Dewan Housing Finance Corporation Ltd (DHFL).</p>.<p class="bodytext">Kapoor co-founded the Yes Bank in 2003-04, later became its MD & CEO but forced to exit in September, 2018.</p>.<p class="bodytext">The maverick Kapoor was at one point of time was one of the private sector banking czar in the country.</p>.<p class="bodytext">ED sleuths swooped at Kapoor's Samudra Mahal residence at Worli on Friday evening and raided it.</p>.<p class="bodytext">On Saturday afternoon, Kapoor was taken to the ED office at Ballard Estate for detailed investigations.</p>.<p class="bodytext">Kapoor was grilled overnight at the agency's office.</p>.<p class="bodytext">The development comes around the time when the RBI superceded the board of the Yes Bank, after it landed in a financial mess because of risky loans.</p>.<p class="bodytext">The raids specifically are vis-a-vis dealings with DHFL, whose founders are brothers Dheeraj Wadhawan and Kapil Wadhawan.</p>.<p class="bodytext">The raid is being conducted under the Prevention of Money Laundering Act (PMLA).</p>.<p class="bodytext">According to reports, DHFL gave a loan of Rs 600 crore to Doit Urban Ventures, that is controlled by Kapoor family. The loan was given after DHFL failed to pay debts to the tune of Rs 3,700 crore to the Yes Bank.</p>.<p class="bodytext">The accounts of his wife Bindhu, and their three daughters - Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor - are also under the scanner.<br />Earlier, the ED has probed the links of DHFL founders with underworld don late Muhammed Iqbal Menon alias Iqbal Mirchi, a frontman of kingpin and India's most-wanted man Dawood Ibrahim.</p>.<p class="bodytext">Incidentally, Kapil and Dheeraj's uncle Rakesh Wadhawan and his son Sarang Wadhawan, who are founders of the Housing Development and Infrastructure Ltd (HDIL) are accused in the Punjab and Maharashtra Co-operative Bank (PMC Bank) scam.</p>
<p class="title">After two days of grilling, Yes Bank founder Rana Kapoor has been arrested by the Enforcement Directorate.</p>.<p class="title">The 62-year-old Kapoor has been booked under Prevention of Money Laundering Act (PMLA).</p>.<p class="title">Kapoor was formally arrested in the wee hours of Sunday.</p>.<p class="title">He would be produced in a holiday court later in the day.</p>.<p class="bodytext"><a href="https://www.deccanherald.com/business/business-news/yes-bank-crisis-live-yes-bank-to-announce-quarterly-results-for-december-quarter-on-march-14-811048.html#1" target="_blank"><strong>Follow live updates of Yes Bank developments here</strong></a></p>.<p class="bodytext">Over the last two days, Kapoor was grilled for his and his family's links with troubled-and-controversial realty firm Dewan Housing Finance Corporation Ltd (DHFL).</p>.<p class="bodytext">Kapoor co-founded the Yes Bank in 2003-04, later became its MD & CEO but forced to exit in September, 2018.</p>.<p class="bodytext">The maverick Kapoor was at one point of time was one of the private sector banking czar in the country.</p>.<p class="bodytext">ED sleuths swooped at Kapoor's Samudra Mahal residence at Worli on Friday evening and raided it.</p>.<p class="bodytext">On Saturday afternoon, Kapoor was taken to the ED office at Ballard Estate for detailed investigations.</p>.<p class="bodytext">Kapoor was grilled overnight at the agency's office.</p>.<p class="bodytext">The development comes around the time when the RBI superceded the board of the Yes Bank, after it landed in a financial mess because of risky loans.</p>.<p class="bodytext">The raids specifically are vis-a-vis dealings with DHFL, whose founders are brothers Dheeraj Wadhawan and Kapil Wadhawan.</p>.<p class="bodytext">The raid is being conducted under the Prevention of Money Laundering Act (PMLA).</p>.<p class="bodytext">According to reports, DHFL gave a loan of Rs 600 crore to Doit Urban Ventures, that is controlled by Kapoor family. The loan was given after DHFL failed to pay debts to the tune of Rs 3,700 crore to the Yes Bank.</p>.<p class="bodytext">The accounts of his wife Bindhu, and their three daughters - Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor - are also under the scanner.<br />Earlier, the ED has probed the links of DHFL founders with underworld don late Muhammed Iqbal Menon alias Iqbal Mirchi, a frontman of kingpin and India's most-wanted man Dawood Ibrahim.</p>.<p class="bodytext">Incidentally, Kapil and Dheeraj's uncle Rakesh Wadhawan and his son Sarang Wadhawan, who are founders of the Housing Development and Infrastructure Ltd (HDIL) are accused in the Punjab and Maharashtra Co-operative Bank (PMC Bank) scam.</p>