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
UPDATE: USAA Delivers $150 Million In Loans Within 48 Hours To Serve Members Impacted By Government Shutdown
FOR THE MOST UP-TO-DATE DATA ON USAA SHUTDOWN ACTIVITY, VISIT USAA STORIES: LINK Read more
USAA Names Rob Arena President Of Life Insurance Company
Sep 30 2025 SAN ANTONIO – September 30, 2025 – USAA has appointed Rob Arena as Preside... Read more
USAA Prepares Financial Assistance To Serve Members Impacted By Potential Government Shutdown
No-interest loan and payment relief options among the benefits that eligible members can access Read more
USAA, NFL Extend Long-standing Partnership
USAA to continue providing exceptional Salute to Service NFL experiences to the military community Read more
Nearly Half Of Gen Z Doesnt Know What Affects Their Credit Score, According To New USAA Report
Study Reveals Gaps in Young Adults’ Credit Knowledge and Optimism for Financial Growth Read more
USAA Stands With Our Communities To Provide Support Amid Devastating Texas Floods
Association commits $500,000 and activates employee volunteers to support Read more