A special CBI court in Mumbai on Saturday denied bail to the wife and two daughters of Yes Bank founder Rana Kapoor in a quid-pro-quo case involving private sector lender DHFL and referred them to judicial custody of 14 days.
Kapoor’s wife, Bindu, and their daughters Radha Khanna and Roshini have been named as defendants in charge sheets filed by the investigative agency in the case, and the court, after hearing the charge sheet, had subpoenaed the trio. .
The three appeared in court and requested bail through their legal team consisting of Vijay Agarwal and Rahul Agarwal, who argued that the charge sheet was filed without Bindu, Radha and Roshni being arrested and therefore according to a judgment of the Supreme Court, they deserve to be granted bail.
Vijay Agarwal further argued that the court had already exercised the discretion to issue subpoenas to its clients, clearly showing that there is no need to arrest them.
However, Special Judge SU Wadgaonkar rejected their requests for bail and sent them into judicial custody until 23 September.
After the prosecution submitted that the jail superintendent would not accept custody of the defendant without a report from the RTPCR, the court allowed the investigating agency to hold the three in judicial custody until received.
According to the Central Bureau of Investigation, Kapoor, who is in jail in a related case being investigated by the Directorate of Enforcement, entered into a criminal conspiracy with DHFL’s Kapil Wadhawan.
The CBI has stated that between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term obligations of Dewan Housing Finance Corporation Ltd (DHFL).
In return, DHFL’s Wadhawan allegedly “paid a 600 million rupee commission” to Kapoor in the form of loans to DoIT Urban Ventures, a company controlled by Kapoor’s wife and daughters.
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