Suspecting ‘sabotage’ of rescue plan, govt played cat & mouse game to corner Rana Kapoor

NEW DELHI: At least thrice in the last eight months or so, potential investors in Yes Bank walked away just when a deal appeared to be close to fruition. For a while, the Reserve Bank of India and the government, which were keeping tabs on the bank, were mystified as to why this was happening.

The puzzlement gave way to suspicion that ousted promoter Rana Kapoor had a hand in sabotaging a turnaround plan after the 62-year-old, now in ED’s custody, started sending feelers to the government and the RBI indicating his keenness to return to the bank, according to highly placed sources close to the developments. In one case, the RBI had even told a marquee investor that it could deposit money in an escrow account. “Ev