ED Raids At Yes Bank Founder's Residence In Mumbai

The Enforcement Directorate conducted raids at Yes Bank’s founder Rana Kapoor’s Mumbai residence on Friday night.
The official said that Kapoor was being questioned in connection with the bank’s exposure to troubled reality firm DHFL.
An ED official further added that the accused draw off around Rs 13,000 crore with the help of 79 fictitious companies and one lakh fictitious customers.
The raids came on a day FM Nirmala Sitharaman had spoken about Yes Bank’s funding of stressed corporate such as DHFL as one of the reasons for its failure.
She said, “The exposure of Yes Bank to some of the corporates has been since before 2014, like Anil Ambani group, Essel group, DHFL, IL&FS, and Vodafone."

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