Yes Bank Crisis: ‘Under Psychiatric Treatment Since I Lost my Baby’, Former Founder Breaks Down in Court

New Delhi: Rana Kapoor, founder and former managing director of cash-strapped Yes Bank, who was sent to ED custody till March 11, broke down when he was produced before Mumbai court, said reports. “I want to cooperate with them,” teary-eyed Kapoor told the court with folded hands.

Furthermore, he claimed that he have been under psychiatric treatment ever since he lost his ‘baby’ i.e, ‘Yes Bank’. “I am not running anywhere. ED can take my passport. I’m willing to cooperate day and night despite the fact that I haven’t slept a wink”, Kapoor added.

Notably, Kapoor was arrested by ED under money laundering charges in the wee hours on Sunday after being interrogated for almost 20 hours by the probe agency officials. He was held under the provisions of the Prevention of Money Laundering Act (PMLA), according to ED officials. The probe agency had claimed that Kapoor, a veteran banker, was not co-operating with its investigation.

Besides, the Central Bureau of Investigation (CBI) also booked Kapoor, DoIT Urban Ventures, a company allegedly held by his family members, and DHFL promoter -director Kapil Wadhawan for alleged criminal conspiracy, cheating and corruption. The CBI alleged that Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them.

The CBI and ED’s action against the former founder of Yes Bank comes days after the Reserve Bank of India (RBI) imposed a moratorium on the capital-starved PSB, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.