Samudra Mahal, the residence of Yes Bank founder Rana Kapoor, surrounded by a cash crunch. However, it raided by the Enforcement Directorate (ED) on Friday night. Officials say that this action taken against them in connection with the investigation of the money laundering case. The ED team also questioned Kapoor at his residence.
The ED has registered a case against him and others under the Prevention of Money Laundering Act (PMLA). Officials say that the purpose of this raid is to gather evidence. The central agency is investigating the role of Rana with the bank lending to a corporate company and taking bribe in his wife’s bank accounts in return.