ED probes Rana Kapoor's role in YES Bank's Rs 30,000-cr bad loans

The special court under the Prevention of Money Laundering Act granted an extension to keep Rana Kapoor under custody till March 16

The special court under the Prevention of Money Laundering Act (PMLA) granted an extension to the Enforcement Directorate (ED) to keep Rana Kapoor under custody till March 16.

The ED had sought extension of Kapoor’s custody to probe his role in YES Bank’s bad debts of Rs 30,000 crore. It will also look into whether the monies were “siphoned and laundered” to the 78 entities controlled by the bank’s co-founder.

“It has been noticed that more than Rs 30,000 crore was given as loans by YES Bank to several companies/entities during the tenure of Kapoor in YES Bank which have