ED questions Yes Bank's co-founder Rana Kapoor in alleged Anil Ambani Group case

The Enforcement Directorate (ED) on Monday questioned Yes Bank co-founder and former managing director Rana Kapoor in connection with an alleged money laundering case involving Reliance Anil Ambani Group (ADAG) companies.

- Ashish Singh

Kapoor's statement was recorded under the Prevention of Money Laundering Act (PMLA). The agency is probing an alleged quid pro quo arrangement between Kapoor and industrialist Anil Ambani, which, according to investigators, resulted in substantial losses to Yes Bank.

During Kapoor's tenure, Yes Bank's exposure to ADAG companies stood at around Rs 6,000 crore as on March 31, 2017, This exposure allegedly doubled to around Rs 13,000 crore by March 31, 2018, officials said.