Yes Bank case: ED summons Subhash Chandra, Naresh Goyal for questioning

The Enforcement Directorate on Monday issued summons to Subhash Chandra of Essel Group, former Chairman of Jet Airways Naresh Goyal, Promotor of DHFL Kapil Wadhawan in connection with bad loans given by Yes Bank founder Rana Kapoor.

Essel Group 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.

ED also issued a fresh summons to Reliance Group Chairman Anil Ambani to appear on Thursday in connection with a money laundering case.

Earlier today, a special court extended the ED custody of Yes Bank founder Rana Kapoor up to March 20.

Kapoor was produced before the special court at the end of his five-day custody. Kapoor was arrested by the ED on March 7.

Last week, the RBI suspended the board of directors at India's fourth-largest private bank and imposed the withdrawal limit on account holders till April 3 citing its poor financial health due to bad loans.

The RBI on Monday announced to lift the moratorium on March 18 at 6 pm.