[ad_1]
Yes, the bank said it had no business relationship with the two investment firms promoted by Rana Kapoor and subject to regulation and investors.
"The bank is in no way involved in managing the funds of two companies. mentioned in the press articles and the bank has no contact with these two companies, except for the fact that Yes Capital (India) Private Limited and Morgan Credits Private Limited are entities of the group promoter ", declared the bank Yes in a statement.
by the Economic Times of November 28 pointed out that the investment companies of Yes Bank co-founder Rana Kapoor could be considered a target by regulators for apparently using money borrowed by mutual funds in a finance company through a dubious transaction. 19659002] Yes Capital, owned by the Rana Kapoor family, borrowed funds from the market, part of which was invested in ART Capital, which subsequently invested part of it in ART Housing Finance through subsidiaries. , says the report.
Yes Capital's balance sheet shows the investment of the debt as a stake in ART Capital. The ultimate beneficial ownership of both companies is owned by Yes Capital, which also owns Yes Bank shares.
[ad_2]
Source link
