A special court of the Central Bureau of Investigation (CBI) in Mumbai granted interim bail to the wife and a daughter of Yes Bank founder Rana Kapoor in a bank fraud case on Saturday. The court has issued notice to the probe agencies and will hear the matter on 20 September.
The CBI had named Kapoor’s wife Bindu and daughter Radha as accused in the recently filed supplementary charge sheet but never arrested them.
Taking cognisance of the charge sheet, the special court had summoned the accused, and the two appeared before the court today. They then moved bail applications through their legal team. They were represented by Vijay Agarwal and Rahul Agarwal.
The mother-daughter duo contended before special judge SU Wadgaonkar that their arrests were not required as the CBI had filed a charge sheet as well without arresting them during the probe.
When the probe agency sought time to file a reply to the pleas, the duo prayed for interim bail, which was allowed by the court. Advocate Vijay Agarwal had also filed an application before the principal judge of the sessions court praying that the two matters connected to DHFL being probed by the CBI and ED be listed before the same judge.
Yes Bank founder Rana Kapoor is currently in judicial custody after being arrested by the Enforcement Directorate in a related case.
The CBI alleges that Kapoor and his family received kickbacks for investments into Yes Bank to the tune of Rs 3,700 crore in the debentures of Dewan Housing Finance Corporation Limited (DHFL). The probe agency has claimed that DHFL gave Kapoor Rs 600 crore as a bribe in the form of loans to a firm controlled by the latter’s wife and daughters.
The CBI had on 25 June 2020 filed its first charge sheet in the Yes Bank case against eight entities including founder Rana Kapoor and his family members. The CBI holds DHFL and promoters Kapil Wadhawan and Dheeraj Wadhawan among the other accused.
Two years after a scam involving diamantaire Nirav Modi hit the PNB with a massive Rs 13,000 crore non-performing asset, the bank declared DHFL cheated it too. The bank issued a statement saying that DHFL cheated it with applications for a total loan of Rs 3,600 crore.
Finally, public money was used to revive Yes Bank, which had fallen due to the corrupt practices of its owner.