SC rejects bail plea of YES Bank’s founder Rana Kapoor
The apex court also questioned why the Enforcement Directorate (ED) is taking so long to investigate the YES Bank scam pertaining to Rs 3,642-crore.
The apex court also questioned why the Enforcement Directorate (ED) is taking so long to investigate the YES Bank scam pertaining to Rs 3,642-crore.
Stating that the case has ‘rocked the entire banking system’, the Supreme Court on Friday rejected the bail plea of…
Kapoor, who was also the promoter of Yes Bank, entered into an agreement as a 'guarantor'.
As per the reports, the properties attached includes bungalow in Delhi at 40, Amrita Shergil Marg and his flats in Mumbai’s Worli and Indiabulls One.
This move means that its founding promoters Rana Kapoor and Madhu Kapur families and firms linked to them will now become non-promoter shareholders or public shareholders.
Meanwhile, the Union Finance Ministry on Friday notified the reconstruction scheme for crisis-hit YES Bank and said that moratorium on the bank will be lifted within three working days and a new board, having at least two directors of SBI, will take over within seven days of the issuance of notification.
The bank granted a Rs 600 crore loan to a company called DoIT owned by Roshni Kapoor, Rakhee Kapoor Tandon, and Radha Kapoor.
Zain Shroff, Rana Kapoor’s lawyer told the court that his client has been made ‘a scapegoat’ due to public outrage against the YES Bank.
Roshni Kapoor was stopped before boarding a flight to London amid the corruption investigation by Enforcement Directorate into the massive financial crisis that hit India's fifth-largest private lender.
62-year-old Rana Kapoor was arrested at the ED office in Ballard Estate in Mumbai under the Prevention of Money Laundering Act (PMLA).
