ED Raids At Yes Bank Founder's Residence In Mumbai
- The Enforcement Directorate conducted raids at Yes Bank’s founder Rana Kapoor’s Mumbai residence on Friday night.
- The official said that Kapoor was being questioned in connection with the bank’s exposure to troubled reality firm DHFL.
- An ED official further added that the accused draw off around Rs 13,000 crore with the help of 79 fictitious companies and one lakh fictitious customers.
- The raids came on a day FM Nirmala Sitharaman had spoken about Yes Bank’s funding of stressed corporate such as DHFL as one of the reasons for its failure.
- She said, “The exposure of Yes Bank to some of the corporates has been since before 2014, like Anil Ambani group, Essel group, DHFL, IL&FS, and Vodafone."
