InvestorQ : Why has former MD of Yes Bank put the blame for the mess on Rana Kapoor?
Chandralekha Desai made post

Why has former MD of Yes Bank put the blame for the mess on Rana Kapoor?

Answer
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Mitali Bhutta answered.
5 months ago


Ravneet Gill, who was the MD when Yes Bank got into the mess, put the blame squarely on the shoulders of Rana Kapoor. Deposing before the ED, Gill accused Kapoor of flouting rules to extend loans to realty companies owned by DHFL, which had essentially led to the steep rise in bad loans. One thing the ED is already investigating is that Yes Bank had subscribed to debentures worth Rs.3700 crore in DHFL and for that Rana had been allegedly paid a kickback of Rs.600 crore. Gill had joined as MD and CEO of Yes Bank on March 1, 2019 but it would be naive to imagine that he know nothing because by then the problems at Yes Bank were public knowledge.