Sources said the agency might also register a separate case against Rana Kapoor, depending on the outcome of the search operation.
The source said the searches are being carried out at the residential premises of all three daughters -- Rakhee Kapoor Tandon, Roshni Kapoor and Radha Kapoor
The ED had searched Rana's residence in the upscale 'Samudra Mahal' complex in the Worli area on Friday night and had grilled him there too
Confirming the development, an ED official said searches would continue over the weekend and Kapoor might have to face questioning by sleuths
They said the raid is being carried out at his Samudra Mahal residence in the western metropolis
The central bank's takeover of Yes Bank appears intended to restore depositor confidence
Macquarie Capital Securities also said if State Bank of India (SBI) decided to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired
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The bank's stock has fallen 65% to Rs 64.15 a share, this year to date
Year to date, the stock of YES Bank has fallen 65 per cent to Rs 64.15 a share
Yes Bank closed on Tuesday 2.66 per cent lower, at Rs 64.15 a share, on the BSE.
Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October
The bank, which is known for high growth, is consolidating and taking a measured growth approach, Gill added.
Ravneet Gill, CEO of YES Bank, said the drop in share prices wasn't a reflection of the bank's performance
After the recent share sales, the family's stake in the bank has shrunk to around 1 per cent, showed an analysis of exchange data
According to the rating note, these NCDs are Zero Coupon Bonds set for maturity on April 19, 2021.
Kapoor has pledged shares of Yes Bank to RNAM, the asset manager of Reliance Mutual Fund, as collateral
Thus far in financial year 2019-20 (FY20), the share price of YES Bank has plunged 85 per cent, against a per cent fall in the Sensex.