Roshini Kapoor has been released on bail by a lower court, her lawyer said. (FILE)
Bombay:
A Mumbai Magistrates’ Court on Thursday granted bail to the daughter of Yes Bank founder Rana Kapoor, Roshni Kapoor, accused in the Yes Bank DHFL-related fraud case, after appearing in court in response to a summons that had been sent to him.
Roshni Kapoor was summoned to court last month in connection with the case. She is one of eight defendants named in the charge sheet filed in the case by the CBI.
Roshini Kapoor has been released on bail by a lower court, her lawyer Subash Jadhav said.
In June of this year, the CBI filed an indictment against Rana Kapoor and others under the provisions of the Prevention of Corruption Act (PC) and the Indian Penal Code.
However, the corruption charges were dropped by the CBI Special Court because the prosecution failed to obtain the necessary sanction to prosecute under the PC Law.
Thus, the case was sent back to the district court for judgment.
The trial court last month accepted the charge sheet filed by the CBI and issued subpoenas to all defendants who are not arrested in the case, including Roshni Kapoor and four other DHFL companies, Belief Realtors Pvt Ltd, RKW Project PVT Ltd, DoIT Urban Ventures (India) Pvt Ltd.
In response to the summons, Roshni Kapoor appeared in the district court and requested bail.
According to the central agency, in return for an investment in Dewan Housing Finance Corporation Ltd (DHFL) debentures by Yes Bank, companies controlled by Rana Kapoor and members of her family were said to have received undue advantages.
The scam began between April and June 2018, when Yes Bank invested Rs 3,700 crore in short-term DHFL debentures, the CBI alleged.
In return, the promoters of the DHFL (Kapil Wadhawan and Dheeraj Wadhawan) reportedly “paid a bribe of Rs 600 crore” in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, a company controlled by the Mr Kapoor’s wife and daughters, he said.
(Except for the title, this story was not edited by GalacticGaming staff and is posted from a syndicated feed.)
