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Sure Financial institution Founder Rana Kapoor Arrested Through Enforcement Directorate

Rana Kapoor has been charged below the Prevention of Cash Laundering Act (Document)


The Enforcement Directorate (ED) on Sunday arrested Sure Financial institution founder Rana Kapoor.

Rana Kapoor used to be taken to the Enforcement Directorate (ED) place of job for wondering on Saturday.

Previous, the company carried out raids at Mr Kapoor’s place of abode on the “Samudra Mahal” residential tower in Mumbai on Friday and registered a case below the Prevention of Cash Laundering Act (PMLA) in opposition to him.

On Thursday, the RBI stated a moratorium has been imposed on Sure Financial institution, stressing that the financial institution’s monetary capacity has passed through a gradual decline in large part because of the shortcoming of the financial institution to boost capital.

Right through the length of moratorium, the Sure Financial institution Ltd. is not going to, with out the permission in writing of the Reserve Financial institution of India, make within the combination, cost to a depositor of a sum exceeding Rs 50,000 mendacity to his credit score in any financial savings, present or another deposit account.

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