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Viva Group money-laundering probe: Enforcement Directorate takes Rana Kapoor into custody

YES Bank co-founder remanded to custody until January 30. ED to grill him on loans given to HDIL for renovation of a newly constructed building in a Mumbai suburb

January 27, 2021 / 07:13 PM IST
Rana Kapoor

Rana Kapoor

The Enforcement Directorate (ED) took Rana Kapoor, co-founder of YES Bank, into custody on Wednesday in connection with a money laundering investigation into Maharashtra MLA Hitendra Thakur's Viva Group.

Kapoor had been arrested in the Yes Bank fraud case on March 8 and was in judicial custody.

On Wednesday, the special PMLA court remanded Kapoor to ED custody until January 30. The Directorate has been waiting to grill Kapoor about a YES Bank loan to real estate developer HDIL, embroiled in the PMC Bank scam, for renovation of a newly constructed building in Andheri, a Mumbai suburb.

The building was constructed by Mack Star Private Ltd, with Rs 1,000 crore invested mainly by Ocean Deity Investment Holding Ltd (ODIL).