Mumbai: Essel Group Chairman Subhash Chandra appeared before the Enforcement Directorate on Saturday in connection with a money laundering probe against Yes Bank promoter Rana Kapoor and his family members, officials said.
Also, Jet Airways founder Naresh Goyal was questioned by the ED in connection with a separate money laundering case linked to alleged financial fraud with a Mumbai-based tours and travel company.
It was earlier stated by officials that Goyal was questioned in the Yes Bank case but later it was clarified that he joined investigation in another case. Goyal has been summoned by the agency in the Yes Bank case too but he is yet to depose.
Officials said Subhash Chandra arrived at the ED office here at Ballard Estate at about 11 am.
His statement will be recorded by the investigating officer of the case under the Prevention of Money Laundering Act (PMLA). The Essel Group has an alleged unpaid loan of Rs 8,400 crore towards Yes Bank.
Chandra, also a Rajya Sabha MP, was first called by the ED March 18 but he skipped saying he was occupied with the ongoing Parliament session. He was then given a fresh date for Saturday by the ED.
Finance Minister Nirmala Sitharaman had March 6 told a press conference that the Anil Ambani Group, Essel Group, Infrastructure Leasing and Financial Services (IL&FS), Dewan Housing Finance Corporation (DHFL) and Vodafone were among the stressed corporates Yes Bank had exposure to.
Jet Airways’ loan exposure to the crisis-ridden Yes Bank is about Rs 550 crore.
Naresh Goyal was first summoned by the central probe agency on March 18 but he cited the reason of tending to an ill relative for skipping the summons. He is expected to appear in the Yes Bank case soon, they said.
A full-service carrier, Jet Airways shut its operations in April last year after running out of cash. The agency initiated action against Rana Kapoor and his family members and raided him soon after the Reserve Bank imposed a moratorium on the “stressed” Yes Bank earlier this month.
Normal banking operations for Yes Bank customers were re-started Wednesday. Kapoor, 62, was arrested by the ED in Mumbai March 8 and at present he is in judicial custody.
The ED has grilled Reliance Group Chairman Anil Ambani and Peter Kerkar of Cox & Kings company.
The probe agency has accused Kapoor, his family members and others of laundering “proceeds of crime” amounting to Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later allegedly became a non-performing asset (NPA).
As many as 44 companies belonging to 10 large business groups reportedly accounted for bad loans totalling Rs 34,000 crore of Yes Bank.
PTI