The statement from Indiabulls Housing comes amid arrest of Yes Bank co-founder and former CEO Rana Kapoor, on alleged money laundering charges and that the loans by the lender to DHFL turned sour.
Yes Bank has been put under moratorium until April 3, during which period customers will not be allowed to make withdrawal of more than Rs 50,000, as also the board has been superseded by the Reserve Bank of India (RBI) through appointment of an administrator, Prashant Kumar, former executive of SBI.
A plan of reconstruction of Yes Bank is underway under the RBI, wherein SBI will stake claim of 49 per cent equity in the crippled private sector lender through an investment of Rs 2,450 crore.
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