The Enforcement Directorate (ED) has filed a chargesheet against Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, and Avantha group promoter Gautam Thapar at a Prevention of Money Laundering Act (PMLA) court in Mumbai in connection with the money laundering case. According to the ED, the 1300-page chargesheet names 10 people as accused […]
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PNB Housing Finance, Yes Bank in co-lending partnership
PNB Housing Finance and Yes Bank said on Friday they have entered into a strategic co-lending agreement to offer customised retail loans for homebuyers at competitive interest rates. Both organisations will jointly do due diligence and co-originate the loan at an agreed ratio. PNB Housing will service customers through the entire loan lifecycle including sourcing, documentation, and collection […]
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YES Bank looks to raise Rs 10,000 crore via FPO
YES Bank Ltd plans to soon launch a follow-on public offering (FPO) to raise as much as Rs 10,000 crore, said three people aware of the development. The private lender, which was rescued recently by a consortium led by State Bank of India (SBI), is likely to file an offer […]
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Rana Kapoor used YES Bank for illegal activities, says ED
Former YES Bank managing director and chief executive officer Rana Kapoor used the lender as his “personal fiefdom” to carry out illegal activities and was the architect of a financial fraud aimed at creating wealth for himself and his family, the Enforcement Directorate (ED) claimed in a charge sheet filed […]
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A mysterious Indian-origin tycoon behind a bid to save India’s Yes Bank
Erwin Singh Braich, the mysterious tycoon behind a $1.2 billion bid to rescue a beleaguered Indian bank, says he is Canada’s richest man with a story so fabulous that Netflix Inc. wants to tell it. There’s a less glittering account pieced together from interviews and court records: The son of […]
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Sensex hits record high of 40,345; SBI, Infosys, Tata Motors, Yes Bank rally as top gainers
Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS. After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 […]