Mumbai: Roshni Kapoor, the daughter of Yes Bank founder Rana Kapoor, was stopped at the Mumbai airport from boarding a British Airways flight to London on Sunday evening.
Kapoor, his wife and three daughters cannot leave the country as look out circulars (LoC) were issued against the family in the wake of the Yes Bank crisis. The LoC requires immigration authorities to intimate the issuing agency before they allow the passenger to travel to any international or domestic location.
The reasons for Roshni’s travel were not known immediately. She was asked to join the investigation in the case by the ED after she was intercepted by immigration authorities, officials said.
Rana Kapoor, the former MD and CEO of the private bank, was arrested on money laundering charges and remanded to the Enforcement Directorate's custody till March 11 on Sunday. Kapoor was arrested in the wee hours of Sunday as he was not cooperating in the probe, officials said.
The ED is primarily investigating Kapoor and his family over a Rs 600 crore fund received by a firm allegedly "controlled" by them from an entity linked to the scam-hit Dewan Housing Finance Limited (DHFL).
The Kapoor's linked firm, DoIT Urban Ventures (India) Pvt Ltd, is alleged to have received the funds when Yes Bank had a exposure of more than Rs 3,000 crore loans to DHFL, already being probed for purported financial irregularities and diversion of funds.
The bank, they said, allegedly did not initiate action to recover the NPA-turned loans from DHFL and the agency suspects that the Rs 600 crore funds were part of alleged kick backs received as quid pro quo in the firm controlled by the Kapoor family.
Rana Kapoor told a special holiday court on Sunday that the DoIT company is in name of his two daughters — Radha Kapoor and Roshni Kapoor. Yes Bank had given around Rs 3,700 crore loan to triple-A rated DHFL company, and later about Rs 600 crore was borrowed by DoIT Company from DHFL, he said.
The DoIT company is still repaying the loan and it is not an NPA (non-performing asset), Rana Kapoor said.
"From the last few days I was not well, hence my family members took me to Breach Candy Hospital, but still I am cooperating with the ED," he told in the court.
Before his arrest, he was questioned by the ED sleuths for over 20 hours after the central agency raided his residence on Friday night.
The ED action came after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.
Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.
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