On Friday, the Enforcement Directorate (ED) raided Yes Bank founder Rana Kapoors’ house, Samudra Mahal in Worli, Mumbai. ED reported that Yes Bank had provided loans worth hundreds of crores to Deewan Housing Finance Limited (DHFL). ED raided his house under the search warrant placed in connection with Prevention of Money Laundering Act 2002 probe. The Reserve Bank of India had suspended the board of Yes Bank and imposed a moratorium that allows bank account holders to withdraw up to Rs 50,000 only for a month.
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Yes Bank Crisis: ED raids Founder Rana Kapoor’s house in Mumbai
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