Amagistrate court here on
Thursday granted bail to Yes Bank founder Rana Kapoors daughter Roshni Kapoor, an accused in the Yes Bank fraud case linked to DHFL, after she appeared before the court in response to summons issued to her.
Roshni Kapoor was summoned by the court last month in connection with the case.
She is one of the eight accused named in the charge sheet filed in the case by the CBI.
Roshini Kapoor was grantedbail by a magistrate's court, her lawyer Subash Jadhav said.
In June this year, the CBI filed the charge sheet against Rana Kapoor and others under provisions of the Prevention of Corruption (PC) Act and Indian Penal Code.
However, the charges of corruption were dropped by the special CBI court as the prosecution did not obtain the sanction needed to prosecute under the PC Act.
Thus, the case was shifted to the magistrate court for trial.
The magistrate court last month accepted the charge sheet filed by the CBI and issued summons to all the accused who are not arrested in the case, including Roshni Kapoor and four other companies DHFL, Belief Realtors Pvt Ltd, RKW Project PVT Ltd, DoIT Urban Ventures (India) Pvt Ltd.
Responding to the summons, Roshni Kapoor appeared before the magistrate court and sought bail.
As per the central agency, in return for investment in Dewan Housing Finance Corporation Ltd (DHFL) debentures by Yes Bank, companies controlled by Rana Kapoor and his family members allegedly got undue benefits.
The scam started between April and June 2018, when the Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit DHFL, the CBI has alleged.
In return, DHFL promoters (Kapil Wadhawan and Dheeraj Wadhawan) allegedly "paid kickback of Rs 600 crore" in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, a firm controlled by Kapoor's wife and daughters, it has claimed.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU