Industrialist Subhash Chandra Summoned In Yes Bank Money Laundering Case

   By Power Corridors ,  18-Mar-2020
Industrialist Subhash Chandra Summoned In Yes Bank Money Laundering Case

Enforcement Directorate had summoned Subhash Chandra on Wednesday and also summoned Anil Ambani and Gautam Thapar of the Avantha Group on Thursday.

Industrialist Subhash Chandra and Yes Bank founder Rana Kapoor have been summoned in a money laundering case.

Subhash Chandra's Essel Group allegedly accounts for over Rs 8,000 crore in dues to the crisis-hit Yes Bank. 

Enforcement Directorate had summoned Subhash Chandra on Wednesday and also summoned Anil Ambani and Gautam Thapar of the Avantha Group on Thursday.

The agency has issued a fresh summon to Reliance Group chief Anil Ambani after he requested more time citing health reasons.

The Enforcement Directorate is investigating allegations of suspicious loans given to various organisations or entities by the bank in violation of rules. Rana Kapoor, 62, has been accused of "laundering proceeds of crime" worth Rs 4,300 crore by receiving kickbacks for clearing bad loans.

Yes Bank, India's 4th largest private lender, allegedly gave bad loans worth over Rs 34,000 crore.

The Yes Bank crisis peaked earlier this month after the Reserve Bank of India imposed a moratorium and capped withdrawal by users at Rs 50,000 a month.






COVID-19
GLOBAL
Infected
Deaths
COVID-19
INDIA
Infected
Deaths
COVID-19
GLOBAL
Infected
Deaths
COVID-19
INDIA
Infected
Deaths