© Reuters. Yes Bank founder Rana Kapoor arrives at the Enforcement Directorate office after leaving Sessions Court for alleged money laundering charges in Mumbai

MUMBAI (Reuters) - An Indian court on Sunday remanded the founder and former managing director of crisis-hit Yes Bank Ltd (NS: ) in police custody until March 11 after he was arrested on money-laundering charges.

India's Enforcement Directorate, the country's federal financial crime agency, arrested Rana Kapoor early on Sunday after hours of interrogation and searches at his and his daughters' residences in Delhi and Mumbai.

Kapoor was produced in a Mumbai court in western Maharashtra state and a case of money laundering has been registered against him.

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Originally posted by:

Abhirup Roy

www.investing.com

March 8th, 2020