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Jul 04, 2013, 11.15 PM IST | Source: Moneycontrol.com

Court rejects IDFC Cap CEO bail plea in sexual abuse case

A Delhi district court has rejected the anticipatory bail plea of IDFC Capital CEO Tapasije Mishra in a case filed against him by a woman alleging sexual abuse, intimidation and breach of trust.

Saikat Das
moneycontrol.com

A Delhi district court has rejected the anticipatory bail plea of IDFC Capital CEO Tapasije Mishra in a case filed against him by a woman alleging sexual abuse, intimidation and breach of trust.

The complainant, a divorcee with a nine-year old son and a former air hostess with Emirates Airlines, in an FIR filed with the Vasant Kunj police station (New Delhi), had alleged that Mishra had sexual relations with her for the last three years while promising to marry her. Mishra then backtracked on his commitment, and his father (also named in the FIR) threatened the complainant with dire consequences unless she stayed away from him (Tapasije), she alleged.

Also read: Phaneesh Murthy admits to relationship, alleges extortion

In his ruling, Additional Sessions Judge Daya Prakash, said custodial interrogation of the accused was required for investigating the allegations of mental and physical torture.

"Though the accused has denied any sexual relationship with the complainant but the documents in record shows the admission of the fact that there were sexual relationship (sic) between the complainant and accused no. 2 (Tapasije). Secondly, there are several communications and statement of applicant no.1 (Tapasije's father Kamlakar Mishra) that applicant no. 2 has relationship with several girls and women," Judge Daya Prakash said in his ruling.

Efforts to contact Tapasije Mishra were in vain as both his mobile phones were switched off.

In an e-mail response to a moneycontrol.com questionnaire, an IDFC spokesperson wrote:

"This is a private matter and does not involve the firm or any other employee of the Firm.  We have a clearly defined Code of Conduct relating to employees and their behavior. We will take appropriate action in line with our policies based on facts and circumstances of the case. Meanwhile the concerned employee is on indefinite leave."

IDFC Capital is the merchant banking arm of IDFC, formerly Infrastructure Development Finance Company. IDFC has acquired the investment banking division from brokerage house SSKI, which it bought out some years back.

Tapasije was one of the co-founders of this division which was started in 1993.

saikat.das@network18online.com

IDFC stock price

On October 01, 2014, IDFC closed at Rs 136.15, down Rs 1.1, or 0.8 percent. The 52-week high of the share was Rs 166.70 and the 52-week low was Rs 88.10.


The company's trailing 12-month (TTM) EPS was at Rs 10.78 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 12.63. The latest book value of the company is Rs 96.95 per share. At current value, the price-to-book value of the company is 1.40.

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