The Central probe agency has directed Kannan to submit financial documents, including those of his relatives before 5 October.
Daughter of Yes Bank founder Rana Kapoor, who was arrested on money laundering charges, was stopped at the Mumbai airport on Sunday evening.
Roshni Kapoor was stopped before boarding a flight to London amid the corruption investigation by Enforcement Directorate into the massive financial crisis that hit India’s fifth-largest private lender.
Early in the day, Rana Kapoor was arrested by the Enforcement Directorate on money laundering charges and was sent to its custody till March 11 by a Mumbai court.
The arrest was made after hours of interrogation and searches at his and his daughters’ residences in Delhi and Mumbai.
He was presented in a Mumbai court where Sunil Gonsalves, representing the ED, said at the hour-long hearing that the total proceeds of the alleged crime amounted to Rs 4300 crore. He also told the court that Rana Kapoor refused to cooperate with the investigation.
Zain Shroff, Rana Kapoor’s lawyer told the court that his client has been made ‘a scapegoat’ due to public outrage against the Yes Bank.
The Reserve Bank of India (RBI) placed the bank under a moratorium and imposed limits on withdrawals.
Yes Bank had tried unsuccessfully for months to raise the capital it needs to stay above regulatory requirements. The RBI and SBI came to the rescue of Yes Bank as on Thursday, the RBI took control of Ye Bank and said it would work on a revival plan while the SBI on Saturday said it would invest funds to buy a 49 per cent stake in Yes Bank as part of initial phase of a rescue deal.
Finance Minister Nirmala Sitharaman last week had said that Yes Bank had granted loans to entities including bankrupt Dewan Housing and Finance Ltd.
The agency is primarily investigating Rana Kapoor, his wife, and three daughters in the case over a Rs 600 crore fund received by a firm which is allegedly controlled by the accused from an entity linked to scam-hit Dewan Housing Finance Limited (DHFL).
The Rana Kapoor-linked firm, DoIT Urban Ventures (India) Pvt Ltd, is alleged to have received the funds when Yes Bank had an 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 kickbacks received as quid pro quo in the firm controlled by the Kapoor family.