Yes Bank founder Rana Kapoor is also accused of making a mistake in giving loan to DHFL.

The ED on Wednesday arrested Yes Bank’s former managing director and CEO Rana Kapoor in the PMC bank fraud case.

January 27, 2021, 8:50 PM IST

new Delhi. The Enforcement Directorate on Wednesday arrested Rana Kapoor, the former managing director and CEO of Yes Bank, in a fresh money laundering case. The case is related to the alleged fraud of Rs 4,300 crore in Punjab and Maharashtra Cooperative Bank (PMC Bank) in Maharashtra.

Rana Kapoor has been in judicial custody since March last year
Significantly, the 63-year-old Kapoor was arrested by the ED in March last year in another case. He has been in judicial custody since then. The central agency is investigating against Kapoor and his family for allegedly obtaining Rs 600 crore from a company affiliated to DHFL. Now he has been arrested in another case.

Also read- Budget 2021: Disinvestment target may not be met, target for next year may be Rs 2 lakh croreRecently the High Court rejected the petition

Recently, the Bombay High Court rejected the bail plea of Rana Kapoor. He is currently lodged in Taloja Jail in Mumbai. In July last year, a special court in Mumbai rejected Kapoor’s bail plea following which he moved the High Court.

Bank recovered profits from losses in December quarter
It is worth noting that Yes Bank has made a profit of Rs 150.7 crore in the third quarter of the financial year 2020-21. Explain that the bank had a loss of Rs 18,560 crore in the third quarter of FY 2020. The bank’s condition deteriorated due to this. In the third quarter of FY 2021, Yes Bank’s income from interest stood at Rs 2,560.4 crore, compared to Rs 1,064.7 crore in the same quarter of FY 2020. On a quarter-on-quarter basis, the bank’s gross non-performing assets (NPAs) declined from 16.90 per cent to 15.36 per cent in the third quarter. The bank’s net NPAs declined from 4.71 per cent to 4.04 per cent in the same quarter.