The CBI on Thursday arrested Avinash Bhosale, chairman of Pune-based real estate group ABIL group, in an alleged corruption case involving Yes Bank founder Rana Kapoor and Kapil Vadhawan of DHFL, officials said.
Kapoor was arrested by the Enforcement Directorate (ED) in March 2020 for his alleged role in a scam at Yes Bank. The banker is currently lodged in Taloja jail in neighbouring Navi Mumbai.
Rana Kapoor has told the ED that he was "forced" to buy the M F Husain painting from Priyanka Gandhi and the sale proceeds were utilised by the Gandhi family for the medical treatment of Congress president Sonia Gandhi in New York, according to the charge sheet filed by the federal anti-money laundering agency in a special court in Mumbai.
Although Rana Kapoor is not named as an accused in the CBI FIR pertaining to the case, he is co-accused with Gautam Thapar in another case related to alleged diversion of public money in YES Bank in exchange for a high-end property at an upscale neighbourhood of Delhi, officials said.
ED had not shown any active approach to begin the trials of the cases that have been pending since long, special judge MG Deshpande said in his order granting bail to Kapoor
Earlier in the day, the Delhi High Court sought response from the ED on the bail plea of former MD and CEO of YES Bank, Rana Kapoor, in a money laundering case related to the wrongful loss of Rs 466.51 crore to the bank.
Justice Manoj Kumar Ohri issued notice on Rana Kapoor’s plea and listed the case for further hearing on March 11.
On March 8, 2020, Rana Kapoor was arrested by Enforcement Directorate for alleged financial irregularities during his stint as managing director and CEO of Yes Bank.
Rana Kapoor is in judicial custody after being arrested by March 2020 in case pertaining to scam at the bank.
A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli asked the agencies as to why they want to keep the accused in jail and for what purpose when the charge sheet has been filed.
Senior Counsel Abhishek Manu Singhvi highlighted that the Annual General Meeting for which voting rights are sought to be exercised will end Tuesday and as such the case needs to be heard urgently.
In the charge sheet filed before a special CBI court in Mumbai, the central probe agency has alleged that Kapoor abused his official position and acquired a 1.2-acre uber-luxe bungalow at 40 Amrita Shergill Marg at a very less price than the actual market value.
Bombay HC had on September 28 rejected the bail applications filed by Kapoor’s wife and daughters.
A single bench of Justice Bharati Dangre rejected the bail applications filed by Kapoor’s wife Bindu and daughters Roshini and Radha.
The three appeared in court and filed for bail through their legal team comprising Vijay Agarwal and Rahul Agarwal, who argued that the charge sheet was filed without Bindu, Radha and Roshni being arrested, and, therefore, as per a Supreme Court judgement, they deserve to be granted bail.
Rana Kapoor's wife and daughter were named as accused in the supplementary charge sheet filed by the CBI, but the duo was never arrested in the case.
The release order came after Supreme Court, on August 2, stayed the Securities Appellate Tribunal (SAT) order which had upheld a penalty of Rs 1 crore on Kapoor.
Bindu Rana Kapoor, wife of Yes Bank founder Rana Kapoor has gifted a property owned by her in New Delhi’s Jor Bagh to her grandson. The property is valued at around Rs 40 crore, according to brokers.
Rana Kapoor was arrested by the Enforcement Directorate (ED) in connection with alleged multi-crore fraud at Yes Bank.
The entities — Yes Capital (India) Pvt Ltd and Morgan Credits Pvt Ltd — were penalised by Sebi in March 2021 for not making the requisite disclosures pertaining to the encumbrance of shares.
In the notice, Sebi has asked banks, depositories and mutual funds not to allow any debit from the accounts of Kapoor. However, credits have been permitted. Further, the regulator has directed the banks to attach all accounts, including lockers, held by the defaulter.
The property, located in South Delhi’s Kautilya Marg, houses a building of ground plus two floors and is spread over 1,234 square yards.
YES Bank co-founder remanded to custody until January 30. ED to grill him on loans given to HDIL for renovation of a newly constructed building in a Mumbai suburb
The central agency is conducting an investigation against Kapoor, his wife, and their three daughters over a sum of Rs 600 crore received by a firm allegedly controlled by them from an entity linked to scam-hit Dewan Housing Finance Limited (DHFL).
No society deserves a bank that runs out of money. No bank deserves a boss who runs amok with shenanigans. Journalist Pavan Lall in his book Yes Man: The Untold Story of Rana Kapoor has pieced together the account of how Rana Kapoor brought down one of the biggest private lenders in India. Lall recounts what he learnt about the man.