Enforcement Directorate, which is the central nodal agency to probe money laundering cases, has summoned Reliance group chairman, Mr. Anil Ambani on Monday to further investigate the Yes Bank failure and related money laundering done by Rana Kapoor and his family.
Earlier, last week, Rana Kapoor, the founder of the Yes Bank was arrested by the central agency under charges of money laundering of worth rupees 4300, also his family members are facing the charges.
ED is likely to question all big defaulters, whose borrowing had turn into bad loans of the bank, such as DHFL, Vodafone Idea, IL&FS, Essel group, and Reliance group. Reliance group has borrowed a big chunk of total loans disbursed by the Yes Bank and that loan later turned into Non-Performing Asset (NPA). Ambani group of companies have borrowed about INR 12800 crores from the bank.
Anil Ambani will be questioned under the Prevention of Money Laundering Act (PMLA), which empowers ED with quasi-judicial powers. However he did not appear on Monday, citing some health issues. So enforcement directorate extended the time and now he has to appear before the agency on Thursday. However, group the Reliance group issued a statement in which it said “Reliance group has nil direct or indirect exposure to Rana Kapoor, former Chief Executive Officer of Yes Bank, or his wife or daughters, or any entities controlled by Rana Kapoor or his family.” Also group added that “ Reliance Group is committed to honour repayments of all its borrowings from Yes Bank Ltd through its various asset monetization programs which are all at advanced stages”.
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