Overview
- The Enforcement Directorate recorded Rana Kapoor’s statement under the Prevention of Money Laundering Act as part of its ongoing case tied to Reliance Anil Ambani Group companies.
- Investigators are examining Yes Bank’s 2017–2019 investments of Rs 2,965 crore in Reliance Home Finance and Rs 2,045 crore in Reliance Commercial Finance that turned non-performing by December 2019.
- Outstanding dues cited by the agency stand at Rs 1,353.5 crore for RHFL and Rs 1,984 crore for RCFL, with officials estimating losses to Yes Bank at roughly Rs 3,300 crore.
- ED officials allege a quid pro quo in which Yes Bank’s investments coincided with loans to entities linked to Kapoor’s family, alongside claims that public money from Reliance Nippon Mutual Fund was indirectly routed via the bank due to SEBI conflict-of-interest limits.
- The case forms part of wider multi-agency scrutiny, with the ED saying it has attached or frozen ADAG assets worth about Rs 10,117 crore and reporting recent FEMA-related freezes, as CBI and SEBI continue parallel probes.