Tag: yes bank scam

A special Central Bureau of Investigation (CBI) court Saturday granted interim bail to the wife and daughter of promoter of Yes Bank Ltd (YBL), Rana Kapoor who is jailed in the alleged fraud caused to the private bank.

While the CBI is probing him on corruption charges, the Enforcement Directorate (ED) is investigating him in multiple cases of alleged money laundering.

In August, this year, CBI filed its supplementary chargesheet against Kapoor, his family members and four former junior employees of the bank in connection with the corruption case registered with the CBI pertaining to the loans given to DHFL.. The accused were summoned and the hearing in the said matter was scheduled for today.

Advocate Vijay Aggarwal and Advocate Rinku Garg, filed a bulky regular bail applications for Bindu Kapoor and Radha Kapoor, running into around 250 pages. The prosecution sought time to reply to the plea. The court has adjourned the matter to September 8.

Advocate Aggarwal argued before the court that his clients were charge-sheeted by the CBI without arrest and that in view of the latest judgment passed by the Supreme Court of India just two days back in Aman Preet Singh v/s CBI, his clients deserved to be granted bail.

He further argued that the court had already exercised the discretion of issuing summons to his clients, which clearly shows no need for the arrest of his clients. He contended that his clients were granted regular bail in December, 2020 by a special PMLA court in the said matter, “…which clearly shows that there were no chances of his clients absconding or tampering with evidence. Bindu Kapoor is a housewife and that Radha Kapoor Khanna had two young children so his clients shall be duly available to attend the trial”.

CBI’s counsel stated that the bail applications filed were bulky in nature and sought time to reply to it.

The court, after granting interim bail to Bindu Kapoor and Radha Kapoor Khanna, has kept the matter for reply by September 8.

According to the CBI’s first chargesheet filed last year, in June 2018, Kapoor, then the head of Yes Bank’s management credit committee, sanctioned a loan of Rs 750 crore on an application by the DHFL promoters in the name of Belief Realtors Pvt Ltd. for development of a Bandra Reclamation Project. This amount was advanced to RKW Developers, a company controlled by Dheeraj Wadhwan although the bank’s risk management team had pointed out multiple and serious issues in the proposal.

The agency’s probe revealed that the loan of Rs 750 crore was not utilised for the stated purpose.

Simultaneously, Kapil Wadhawan is said to have paid a kickback of Rs 600 crore to Kapoor and his family members in the garb of a builder loan from DHFL to DOIT Urban Ventures (India) Private Ltd. (DUVPL). Roshini Kapoor is one of the directors of DUVPL.

After deducting a processing fee, an amount of Rs 632 crore was transferred to RKW Developers. This amount was then routed to other entities controlled by the Wadhawans – KYTA Advisors and RIP Developers – to settle a loan obtained from DHFL for the same Bandra Reclamation Project in November 2015.