By Admin 
ED Questions Rana Kapoor: The Enforcement Directorate (ED) on Monday questioned Yes Bank co-founder Rana Kapoor in connection with the ongoing investigation under the Prevention of Money Laundering Act (PMLA), which focuses on alleged financial transactions linked to Anil Ambani group companies. According to officials, this investigation mainly pertains to the period from 2017 to 2019, when Yes Bank had made large-scale investments in Reliance Anil Ambani group companies.
Rana Kapoor interrogated again
ED says that during this period, Yes Bank invested about Rs 2,965 crore in Reliance Home Finance Limited (RHFL) and about Rs 2,045 crore in Reliance Commercial Finance Limited (RCFL), out of which an amount of Rs 1,353.5 crore was found outstanding on RHFL and Rs 1,984 crore on RCFL.
According to the investigating agency, these two companies together had received public funds worth more than Rs 11,000 crore. ED also claimed that before Yes Bank made investments in Anil Ambani group companies, the bank had received huge amounts of money from its erstwhile Reliance Nippon Mutual Fund.
Screw tightened in money laundering case
The agency alleges that due to conflict of interest under SEBI rules, Reliance Nippon Mutual Fund could not directly invest or transfer funds in the financial companies of Anil Ambani group, so the public’s mutual fund investments were allegedly routed to these companies through Yes Bank through an indirect route.
ED believes that Rana Kapoor is being interrogated to understand this suspicious structure and flow of money, so that it can be found out how public funds were misused and money laundered.
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