The Enforcement Directorate is interrogating Yes Bank co-founder Rana Kapoor today i.e. on Monday. This interrogation in the case related to Anil Ambani is taking place at the ED headquarters in Delhi. ED alleges that due to the collusion of Rana Kapoor and Anil Ambani, Yes Bank suffered a loss of Rs 3300 crore. Additionally, it has also been said that Anil Ambani and Rana Kapoor held several meetings in which Yes Bank officials did not attend. It is alleged that these illegal agreements were made in these meetings and after these agreements, Rana Kapoor gave such instructions to Yes Bank officials which caused loss to the bank.
ED has said that there was an agreement like ‘Quid-Pro-Quo’ between Anil Ambani and Rana Kapoor. This means that both were working to benefit each other. According to ED, Rana Kapoor was at the center of Yes Bank. The same Yes Bank gave Rs 6000 crore to Reliance Anil Ambani Group (ADAG Group) till 31 March 2017 and by 31 March 2018 this amount has doubled to 13000 crore. ED alleges that during the same period, Yes Bank invested Rs 5,000 crore in ADAG Group companies Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
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What did ED say?
The investigating ED says that later most of this investment was converted into Non-Performing Investment (NPI) and thus the bank suffered a loss of about Rs 3300 crore. ED has alleged that this was not a normal transaction but a deal made with the aim of benefiting each other. It is alleged that in exchange for this investment of Yes Bank, ADAG Group companies gave loans to the companies of Rana Kapoor’s family members.
ED has alleged that Rana Kapoor and Anil Ambani held private meetings and even bank officials were not invited to these meetings. Illegal agreements were made in these meetings and later Rana Kapoor asked the bank officials to approve fake proposals.
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What is the whole matter?
In fact, in this case, from the very beginning, there have been allegations that Yes Bank wrongly gave loans to Anil Ambani’s companies and the money was never returned. Due to this, in 2020, the cash withdrawal limit of Yes Bank customers was capped at Rs 50 thousand. In the month of April 2024, the Reserve Bank had banned withdrawal of money from Yes Bank accounts. However, this restriction was lifted in March 2025.
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