YES Bank case: ED slaps Rs 5,500-crore kickback charge on Rana Kapoor

Charge sheet filed against YES Bank co-founder

The Enforcement Directorate (ED) on Wednesday submitted its first crucial prosecution complaint, better-known as charge sheet, against YES Bank co-founder Rana Kapoor at the Special Court of Prevention of Money Laundering Act (PMLA) in Mumbai.
 

The charges included kickbacks of more than Rs 5,500 crore, anomalies and discrepancies in distributing bank loans to corporate entities, extended credit facilities by misusing his official position, creating shell companies for laundering money, defaults, and creating tainted assets.
 

Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits,