ED Summons Subhash Chandra In YES Banks Rana Kapoor Case
Money & Banking
The Enforcement Directorate (ED) has requested Essel Group Chairman Subhash Chandra’s presence on March 18, to make a statement on the case related to YES Bank’s founder Rana Kapoor.
“Chandra will certainly be present to make the statement and will be more than happy to extend any support or co-operation requested by ED. The Group wishes to clarify that most of the credit facilities were availed for its infrastructure business and there is no debt on ZEEL, ZMCL, etc,” Essel Group said in a statement.
“The group also wishes to cite that all credit facilities availed were fully secured. The Group has never made any transactions with Rana Kapoor or his family or for that matter any private entities controlled by them,” it added.
Kapoor had been arrested by ED on March 8 under provisions of the Prevention of Money Laundering Act and was initially remanded to ED custody till March 11, which was later extended till March 16.
Published on
March 16, 2020
The Enforcement Directorate (ED) has requested Essel Group Chairman Subhash Chandra’s presence on March 18, to make a statement on the case related to YES Bank’s founder Rana Kapoor.
“Chandra will certainly be present to make the statement and will be more than happy to extend any support or co-operation requested by ED. The Group wishes to clarify that most of the credit facilities were availed for its infrastructure business and there is no debt on ZEEL, ZMCL, etc,” Essel Group said in a statement.
“The group also wishes to cite that all credit facilities availed were fully secured. The Group has never made any transactions with Rana Kapoor or his family or for that matter any private entities controlled by them,” it added.
Kapoor had been arrested by ED on March 8 under provisions of the Prevention of Money Laundering Act and was initially remanded to ED custody till March 11, which was later extended till March 16.
Published on
Gen X Vs. Millennial Parents: New USAA Data Reveals Differences In Early Financial Behaviors For Gen Alpha
San Antonio, TX – JANUARY 13 – While Gen Z (born between 1997 and 2009) is under a constant microscope ... Read more
USAA Members Benefit From ~$3.7 Billion In Financial Rewards In 2025
Record Amount Underscores Association’s Commitment to Military Families Read more
USAA Ranked Highest By J.D. Power For Second Consecutive Year For Member Satisfaction In Individual Annuities
USAA continues to set the standard for personalized, efficient and reliable service across the industry. Read more
USAA Launches “Honor Through Action,” Committing $500 Million Over Five Years To Champion The Military Community
Movement will focus on meaningful careers, financial security and well-being for our nation’s veterans and military fa... Read more
USAA Extends Government Shutdown Relief, Totaling More Than $411M To Its Members
Nov 05 2025 SAN ANTONIO – November 5 – As the government shutdown continues, USAA is e... Read more
USAA To Serve As Title Sponsor For HYROX Dallas In November 2025
Through military veteran athletes, content and onsite activation, USAA will elevate the importance of well-being through... Read more