Yes Bank case: Essel Group Chairman Subhash Chandra reaches ED office for questioning

Essel Group Chairman Subhash Chandra on Saturday reached the Enforcement Directorate (ED) office for questioning in connection with a money laundering case related to Yes Bank founder Rana Kapoor.

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 the Yes Bank founder.

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 had also been questioned by the ED regarding the money laundering case.