Archive · 16 Dec 2025
ED Questions Rana Kapoor in Reliance Probe
The Enforcement Directorate (ED) in India is investigating a case of money laundering involving Yes Bank and Reliance's Anil Ambani group of companies.
They questioned Rana Kapoor, the co-founder of Yes Bank, under the Prevention of Money Laundering Act.
The investigation is about investments made by Yes Bank in two Reliance companies, RHFL and RCFL, between 2017 and 2019.
These investments turned into non-performing assets, meaning the money could not be recovered.
The ED claims that public funds from a mutual fund were indirectly routed to these Reliance companies through Yes Bank, which is against the rules.
The total outstanding amount from these investments is over ₹3,300 crore.
The ED is looking into how these transactions happened and whether any rules were broken.
The ED also alleges that Rana Kapoor and Anil Ambani had private meetings to finalize these arrangements, and that these transactions were part of a quid pro quo agreement where ADAG group entities extended loans to companies controlled by Rana Kapoor’s family members.
The Enforcement Directorate questioned Yes Bank co-founder Rana Kapoor in a money laundering investigation related to Reliance's Anil Ambani group.
The investigation pertains to investments made by Yes Bank in Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Limited (RCFL) between 2017-2019.
Yes Bank invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL, which became non-performing investments by December 2019.
The outstanding amounts were ₹1,353.5 crore for RHFL and ₹1,984 crore for RCFL, with the two companies receiving over ₹11,000 crore in public funds.
The ED claims that public money from Reliance Nippon Mutual Fund was indirectly routed to the Reliance companies through Yes Bank, violating SEBI regulations, and that these transactions were part of a quid pro quo arrangement.
- Who
- Rana Kapoor (Yes Bank co-founder) and the Enforcement Directorate (ED)
- What
- Questioning of Rana Kapoor in a money laundering investigation related to Reliance's Anil Ambani group of companies
- When
- The investigation pertains to the period between 2017-2019, and the questioning happened on December 15, 2025
- Where
- The location is not specified, but the investigation is conducted by the Enforcement Directorate in India
- Why
- To investigate alleged money laundering and the routing of public funds through Yes Bank to Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Limited (RCFL)
- Investigation Agency
- Enforcement Directorate (ED)
- Individual Questioned
- Rana Kapoor (Yes Bank co-founder)
- Act Under Which Questioning Happened
- Prevention of Money Laundering Act (PMLA)
- Time Period of Investigation
- 2017-2019
- Investments by Yes Bank
- ₹2,965 crore in RHFL, ₹2,045 crore in RCFL
- Outstanding Amounts
- ₹1,353.5 crore (RHFL), ₹1,984 crore (RCFL)
- Public Funds Received by RHFL and RCFL
- More than ₹11,000 crore
- Mutual Fund Involved
- Reliance Nippon Mutual Fund
- Alleged Arrangement
- Quid pro quo
- Exposure to ADAG Group
- ₹6,000 crore (March 31, 2017), ₹13,000 crore (March 31, 2018)
Sources
ED questions Yes Bank’s Rana Kapoor in Reliance group probe
ED questions Yes Bank's Rana Kapoor in Reliance Anil Ambani group case
ED grills Rana Kapoor in Anil Ambani case
ED questions Yes Bank's Rana Kapoor in Anil Ambani firms probe: What we know
ED questions Yes Bank's Rana Kapoor in Reliance Anil Ambani group case
ED questions Yes Bank founder Rana Kapoor days after attaching Reliance Anil Ambani Group assets
ED questions Yes Bank co-founder Rana Kapoor in alleged Anil Ambani group money laundering probe: Report
ED questions Yes Bank co-founder Rana Kapoor in Reliance Anil Ambani Group money laundering probe
Ex Yes Bank CEO Rana Kapoor Questioned in Anil Ambani Case Over Quid Pro Quo Deals
ED questions Yes Bank’s Rana Kapoor in PMLA probe linked to Anil Ambani group
ED Questions Rana Kapoor in ADAG Probe
