The Supreme Court on October 7 granted interim bail to YES Bank founder Rana Kapoor's wife Bindu Kapoor and two daughters Radha and Roshni Kapoor in connection with the Rs 4,000-crore YES Bank-DHFL case.
A bench of Justices SK Kaul and MM Sundresh granted bail to the three after Bombay HC had on September 28 rejected the bail applications filed by Kapoor’s wife and daughters.
They had moved Bombay High Court challenging a special CBI court order of September 18 which refused them bail while noting that they had, prima facie, caused a loss of Rs 4,000 crore to the YES Bank through illegal acts.
The three are currently lodged at the Byculla women’s prison in Mumbai.
The quid-pro-quo case of 2020 is being investigated by the CBI, which claimed that Rana Kapoor had entered into a criminal conspiracy with DHFL’s Kapil Wadhawan.
The CBI stated that between April and June 2018, YES Bank invested Rs 3,700 crore in short-term debentures of DHFL.
In return, DHFL allegedly paid a kickback of Rs 900 crore to Kapoor in the form of loans to one DoIT Urban Ventures, a firm controlled by Kapoor’s wife and daughters.
He is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into non-performing assets (NPAs).
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
