Published 23:27 IST, March 9th 2020
YSRCP alleges link between Yes Bank and Chandrababu Naidu, demands investigation
YSRCP in Andhra Pradesh has demanded a probe by the central investigation agencies into the link between Yes Bank and former CM and TDP leader Chandrababu Naidu
Advertisement
Jagan Mohan Reddy-led YSRCP in Andhra Pradesh has demanded a probe by central investigation ncies into link between Yes Bank and former CM and TDP leader Chandrababu Naidu. YSRCP has alleged that former CM seems to have used Yes Bank for 'hawala' transactions. This comes amid Yes Bank crisis as it accumulated plenty of bad loans in 2018 which led to RBI putting bank on a moratorium for 30 days.
Information and Public Relations and Transport Minister Perni Venkataramaiah on Monday alleged that Rs 1,300 crores of Tirumala Tirupati Devasthanam (TTD) deposited in Yes Bank is only tip of iceberg of Chandrababu Naidu's ''shady deals'' and demanded a probe by Enforcement Directorate (ED) and or ncies. Furrmore, YSRCP leader stated that TTD funds were deposited in Yes Bank against rms and as a CM of state n Naidu should have set up a thorough inquiry.
Advertisement
Perni also alleged that Naidu had used Yes Bank to transfer all money he had accumulated over five years and recent investigations by ED into 'hawala' racket could be traced to his house.
Advertisement
Yes Bank crisis
Yes Bank which has been facing a crisis as it accumulated many bad loans in 2018 by lending to corporate defaulters such as DHFL, Jet Airways and Cafe Coffee day, was put on a moratorium by RBI for a period of 30 days, capping its withdrawals at Rs 50,000. RBI has also anunced ‘Yes Bank Ltd. Reconstruction Scheme, 2020’ altering authorised capital to Rs 5,000 crores and 2,400 equity shares standing at Rs 10 each. Moreover, SBI which leads consortium of banks investing in 'reconstructed bank' will t reduce its holding below 26% before completion of three years.
Advertisement
ED probe into Rana Kapoor
As per reports, Enforcement Directorate is investigating case of alleged kickbacks of Rs 600 crore received by a shell company controlled by Yes Bank founder and his two daughters. Media reports suggest that shell company Doit Urban Ventures received kickbacks from Dewan Housing Financial Corporation Ltd (DHFL) for loans worth Rs 4,450 crore granted by Yes Bank. He is in ED's custody after his arrest on Sunday till March 11. CBI too has registered a case against Kapoor, with a lookout tice against all Kapoor family members.
Advertisement
23:27 IST, March 9th 2020