Yes Bank Crisis: CBI raids at Rana Kapoor's house, 6 other locations in Mumbai | Live Updates
Yes Bank founder Rana Kapoor, who has been arrested by Enforcement Directorate (ED) in a money laundering case, has been sent to its custody till March 11 by Mumbai's Special Holiday Court. Kapoor was questioned on Saturday in wake of Yes Bank crisis and arrested by the law enforcement agency.
The arrest comes after charges of alleged financial irregularities and mismanagement in the operations of the private bank surfaced and the RBI and Union government initiated action to control its affairs.
In a rare move, the capital-starved Yes Bank was placed under a moratorium by RBI on Thursday, with the central bank capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.
IndiaTV brings live updates on Yes Bank crisis:
12:11 pm: CBI raids DoIT Ventures, the firm belonging to Kapoor's daughters, Roshini Kapoor, Radha Kapoor Khanna and Raakhe Kapoor Tondon.
11:46 am: CBI carries out searches at 7 locations in Mumbai
The CBI carried out searches at seven locations, including Rana Kapoor's house on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL.
10:16 am: Yes Bank shares zoom over 30 per cent
Shares of Yes Bank on Monday zoomed over 30 per cent after State Bank of India (SBI) said it will pick up 49 per cent stake in the cash-strapped lender for Rs 2,450 crore.
10:00 am: Company does not hold any additional tier I bonds of Yes Bank, says Shriram Transport
Shriram Transport Finance Company on Monday clarified that it does not hold any additional tier-I bonds of cash-strapped Yes Bank. Clarifying to a news item, Shriram Transport Finance in a regulatory filing said that the "company does not hold any additional tier I bonds of Yes Bank Ltd".
"The instruments qualifying as additional tier-1 capital, issued by Yes Bank under Basel-III framework, shall stand written down permanently, in full, with effect from the appointed date," the draft of the 'Yes Bank Ltd. Reconstruction Scheme, 2020', said.