Supreme Court grants Bail to Yes Bank Founder’s Wife & Daughters

Anushka Sharma-
Published On: October 8, 2021 at 14:40 IST

The Supreme Court granted Interim Bail to Yes Bank founder’s Wife and two Daughters in a criminal case arising out of the alleged 4000 crore Dewan Housing Finance Ltd (DHFL)-Yes Bank corruption case.

The Court said Rana Kapoor’s wife and his two daughters will be released on Interim Bail on the same terms and conditions as enumerated in the previous Bail order.

The Applicants had moved the Bombay High Court challenging a special CBI court order of September 18 which refused them bail stating that they had caused a loss of Rs. 4000 Crore to Yes Bank through their illegal activities.

The said case is being investigated by the Central Bureau of Investigation (CBI) which claimed that Kapoor had entered into a criminal conspiracy with DHFL’s Kapil Wadhawan.

The CBI had submitted that between April and June 2018, YES Bank invested Rs 3,700 crore in short-term debentures of DHFL.

In this quid pro quo transaction, DHFL allegedly paid a kickback of Rs 900 crore to Kapoor in the form of loans to one DoIT Urban Ventures, a firm controlled by Kapoor’s wife and daughters.

Kapoor is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into Non-Performing Assets (NPAs).

Also Read: A Deep Delve into the Yes Bank Scam

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