Subhash Chandra didn't leave ED office before completing entire set of interaction with officials: Essel Group

Essel Group on Saturday said that its chairman Subhash Chandra cooperated with the Enforcement Directorate (ED) during questioning in connection with a money laundering case related to Yes Bank founder Rana Kapoor and did not leave the agency's office "before completing the entire set of interaction with the officials."

"Essel Group wishes to confirm that Dr Subhash Chandra visited the Enforcement Directorate (ED) office in Mumbai today and answered all the queries of the officials, to the best of his abilities. He offered complete co-operation in the future as well," said Essel Group in a statement.

"The Group also wishes to clarify that Dr Chandra did not leave the ED office before completing the entire set of interaction with the officials, neither did he cite any reason or excuse to leave early as falsely reported by a leading mainline national newspaper's online portal," it said.

The ED had on Monday issued summons to Chandra and former Chairman of Jet Airways Naresh Goyal, promotor of DHFL Kapil Wadhawan in connection with alleged bad loans given by Yes Bank founder Kapoor.

The Essel Group had issued a statement in response to the summons which read, "Dr Chandra will certainly be present to make the statement and will be more than happy to extend any support or co-operation requested by ED. The Group wishes to clarify that most of the credit facilities were availed for its infrastructure business and there is no debt on ZEEL, ZMCL, etc."

"The Group also wishes to cite that all credit facilities availed were fully secured. The Group has never made any transactions with Rana Kapoor or his family or for that matter any private entities controlled by them," it added.

Reliance Group Chairman Anil Ambani has also been questioned by the ED regarding the money laundering case.