The Enforcement Directorate (ED) has arrested Dewan Housing Finance Limited (DHFL) promoter Kapil Wadhawan and his brother Dheeraj in connection with the Yes Bank corruption case. Both the brothers were presented before a special court in Mumbai, after which they have been sent to 10 days in custody. The Bombay High Court had on May...

Kapil Wadhawan and his brother Dheeraj have been sent to CBI custody till May 4 by a special court in Mumbai on Monday in connection with the Yes Bank case. The DHFL promoters were arrested yesterday from their Mahabaleshwar property by the CBI. The Central Bureau of Investigation (CBI) had registered a case on March...

Billionaires Kapil and Dheeraj Wadhawan, the promoters of scam-hit shadow lender Dewan Housing Finance Limited (DHFL), have been detained at their farmhouse in a Maharashtra hill station after they were caught violating the coronavirus lockdown with more than 20 family members. A senior officer has been sent on compulsory leave for helping the Wadhawan family—being...

In a bid to tide over the liquidity crunch, the Reserve Bank of India (RBI) has extended Rs60,000-crore credit line to Yes Bank so that it meets the obligation of depositors, sources said. This is in line with an assurance given by RBI Governor Shaktikanta Das on Monday saying the regulator was ready to offer...

After a brief break on Friday (March 13), domestic stock markets in India resumed their downward trajectory on Monday following global peers after the US Federal Reserve cut interest rates to near-zero on Sunday in another emergency move to help shore up the US economy amid the rapidly spreading global coronavirus pandemic. Back home, the...

Reliance Anil Dhirubhai Ambani Group (ADAG) group is one of the biggest borrowers of Yes Bank with exposure of over Rs12,000 crore, all of which has become a non-performing asset.  The Enforcement Directorate (ED) has summoned Reliance Group chairman Anil Ambani in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and...

The country’s largest lender State Bank of India (SBI) on Thursday said its board has approved a plan to purchase 725 crore Yes Bank shares at a price of Rs10 per share. The announcement comes days after the Reserve Bank of India (RBI) suspended the troubled private sector lender’s board and restricted withdrawals from its...

In a latest turn of events in the Yes Bank saga, the Enforcement Directorate (ED) has started an investigation in connection with the painting, a portrait of former Prime Minister Rajiv Gandhi, bought by Yes Bank founder Rana Kapoor from Congress leader Priyanka Gandhi, officials said. According to the probe agency, the painting was bought...

Indian stock markets fell sharply on Monday (March 9) with Sensex tanking 1,941 points to close at 35,634.95 amid a global selloff due to the coronavirus scare combined with the Yes Bank crisis that has hurt investors’ sentiment. A significant dip in global oil prices failed to lift the domestic sentiment as increasing cases of...

The Yes Bank saga that unfolded in the past two-three days has posed several serious and uncomfortable questions. The withdrawal restriction suddenly imposed by RBI on Thursday created a panic among the bank customers as was evident by the long queues outside its branches throughout the country. However, several corporate and institutional clients of Yes...

Yes Bank founder Rana Kapoor’s residence in Mumbai was raided by the Enforcement Directorate (ED) on Friday. The money laundering case is under investigation against Kapoor. Officials said that raids are being conducted at his Samudra Mahal residence in Worli. This action has been taken under the Prevention of Money Laundering Act and its purpose...

Union minister and Congress leader P Chidambaram has blame the Modi government through the Yes Bank crisis. Chidambaram alleged that bad loans have increased four times under NDA rule and demonetisation has worsened the situation. He asked whether it was right that SBI was looking for an investment opportunity in Yes Bank? Why should SBI...