Reliance Group Chairman Anil Ambani has today (March 16, 2020) been summoned by the Enforcement Directorate in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others.
Officials have stated that Ambani has been asked to depose at the Enforcement Directorate office in Mumbai as his group companies are one among the big entities whose loans went bad after borrowing from the crisis-hit bank. It is understood that Ambani has sought exemption on health grounds from the agency and he may be issued a new date.
Ambani’s group companies are stated to have taken loans of about Rs. 12,800 crore from the bank that turned NPA. Finance Minister Nirmala Sitharaman had said on March 6, 2020 in a press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to. Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad, are being summoned for questioning in the case to take investigation forward. Ambani’s statement will be recorded under the Prevention of Money Laundering Act, 2002 (PMLA) upon deposition, they said. Kapoor (62), is at present in ED custody after he was arrested by the central probe agency earlier this month. The ED has accused Rana, his family members and others of laundering “proceeds of crime” worth Rs. 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.
Anil Ambani’s ADAG Headquarters in Possession of Yes Bank forRs. 2892 croreLoan Default
The Anil Ambani ADAG group is one of the biggest borrowers of Yes Bank. The bank had extended over Rs. 12,000/- crore as loan to Reliance ADAG in the past.However, after the company (ADAG) failed to repay the bank dues worth Rs. 2892/- crores, it has been taken over by the Yes Bank. The Headquarters of ADAG in Santacruz, Mumbai is 21,432 square feet building which is under the possession of Yes Bank. The bank has also taken possession of two floors of its previous Headquarters in Nagin Mahal in...
Yes Bank Receives Rs 4,500 Crore From Anchor Investors Ahead Of Follow-on Public Offer
Business
Jul 16, 2020
Ghazal Bhootra
(
Editor: Ekta Joshi
)
6 Shares
Private sector commercial bank, Yes Bank on July 14, 2020, accumulated Rs 4,500 crore from anchor investors before its follow-on public offer that begins on July 15, 2020, investment banking informants explained.The company has decided the price band to be at Rs 12-13 per share of equity for its follow-on public offer (FPO) which will be unfurling for subscription from July 15, 2020, to July 17, 2020.Yes Bank is trying to get an investment of Rs 15,000 crore through the...
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