In connection with the Rs 4,000 crore money laundering case, the Supreme Court today granted interim release to YES Bank founder Rana Kapoor’s wife and two daughters.
A Bench of Justices SK Kaul and MM Sundresh granted bail to Bindu Kapoor and her two daughters Radha and Roshni Kapoor in a case involving home finance firm Dewan Housing Finance Corporation Limited (DHFL). The three are currently being held at Mumbai’s Byculla women’s prison.
The Bombay High Court denied their bail last week, stating that the crimes they were accused of had caused a “severe damage” in the country’s “financial health.” Bindu Kapoor and her daughters appealed to the Supreme Court the September 18 ruling of a special CBI court, which had also denied bail.
The Central Bureau of Investigation (CBI) stated that the special court’s order refusing them bail was correct, and that it was only ensuring the accused’s presence at the trial.
According to the CBI, Rana Kapoor, who is now in jail in connection with a related case being investigated by the Enforcement Directorate, conspired with DHFL’s Kapil Wadhawan in a criminal conspiracy. Between April and June 2018, YES Bank invested Rs 3,700 crore in DHFL short-term debentures, according to the agency.
In exchange, private sector lender DHFL allegedly paid Rana Kapoor Rs 900 crore in kickbacks in the form of loans to a company managed by Rana Kapoor’s wife and daughters, DoIT Urban Ventures.
(With inputs from NDTV News – Topstories.)
The Chenab Times News Desk