ED raids Yes Bank founder Rana Kapoor's flat in Mumbai

The Enforcement Directorate on Friday raided the Mumbai residence of Yes Bank founder Rana Kapoor in connection with a money-laundering probe against him and others, officials said. They said the raid is being carried out at his Samudra Mahal residence. Kapoor is being questioned at his home by the ED team, the officials said. The action is being conducted under the Prevention of Money Laundering Act (PMLA) and is aimed at collecting evidence, they said. The central agency is probing Kapoor's role in connection with the disbursal of a loan to a corporate entity and the subsequent alleged kickbacks reportedly received in his wife's accounts.