Yes Bank founder Rana Kapoor’s wife & daughters get interim bail from Supreme Court

By: |
October 08, 2021 2:45 AM

A bench of Justices SK Kaul and MM Sundresh, while allowing them interim bail, said the bail conditions imposed by the lower court in the cases where they have already got bail will be applicable in this case too and no new restrictions were necessary.

Supporting him, senior counsel Mukul Rohatgi told the bench that the general principle is that women accused can be granted bail even in non-bailable offences.Supporting him, senior counsel Mukul Rohatgi told the bench that the general principle is that women accused can be granted bail even in non-bailable offences.

The Supreme Court on Thursday granted interim bail to Yes Bank founder Rana Kapoor’s wife Bindu Kapoor and two daughters — Radha and Roshni Kapoor — in an alleged case of cheating and corruption.

A bench of Justices SK Kaul and MM Sundresh, while allowing them interim bail, said the bail conditions imposed by the lower court in the cases where they have already got bail will be applicable in this case too and no new restrictions were necessary.

Senior counsel Harish Salve, appearing for the family, argued that all three accused have already been granted bail in the serious offences mentioned in the original charge sheet, but are still incarcerated only because bail has been rejected in the bailable offences mentioned in the supplementary charge sheet. He argued that Bindu is in her 60s and daughter Radha had a breastfed infant to take care of.

Supporting him, senior counsel Mukul Rohatgi told the bench that the general principle is that women accused can be granted bail even in non-bailable offences.

The pleas stated that if the accused have not been arrested during investigations and before the filing of the charge sheet, there is no need to arrest them after the charge sheet is filed.

While seeking quashing of the CBI court order, the family said that Rana was the real owner/manager of and they only signed documents and in some cases, Rana “forged” their signatures. “Allegation that petitioners signed some documents/offered guarantee in support of a loan from Dewan Housing Finance Corporation (DHFL) must be seen in the context of a case. Petitioners were not in management at YES Bank or DHFL and no knowledge of quid pro quo can be attributed to them. Signing documents in support of loan for DOIT Urban Venture (DOIT) is by itself a benign circumstance,” the petitions said.

The economic offences had in March last year registered an FIR against DHFL, DOIT and some other entities, their directors and promoters and had named Rana as the prime accused.

The CBI had alleged that Yes Bank had invested Rs 3,700 crore in short-term debentures of DHFL between April and June 2018. In return, DHFL allegedly paid a kickback of Rs 600 crore to Rana in the form of loans to two firms — DoIT Urban Ventures, a firm controlled by Kapoor’s wife and daughters, and Morgan Credits, which is controlled by Bindu.

While Rana has been behind bars for a while, Bindu and Radha were not arrested by the CBI during the investigation. The CBI later filed a supplementary charge sheet which named Bindu and Radha as accused.

Bindu and her daughters were remanded to judicial custody when they appeared before the special CBI court on September 18. The special court had rejected their bail pleas and sent them to jail. On September 28, the Bombay High Court had rejected their bail application.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Biocon consolidated net profit dips 18 pc to Rs 138 cr in Q2
2iPhone 13 Pro review: Little things make ‘pro’ things happen
3How bank-fintech partnerships have evolved in India to ease lending, payments for MSMEs, others