Greeva Garg –
Published on August 25, 2021, at 14:35 IST
A Special Court in Mumbai permitted the Enforcement Directorate (ED) to question Former Chief of Yes Bank, Rana Kapoor, who was arrested in a money laundering case.
The case was filed by Avantha Realty Ltd. upon the scam by Yes Bank Ltd. in a loan undertaken by Oyster Buildwell Pvt Ltd., a holding company of Avantha Realty Ltd.
The ED is probing in allegations by Avantha Realty Ltd. against Yes Bank Ltd. misappropriation for over two years between 2017 and 2019 along with an alleged transaction between Rana Kapoor, his wife Bindu Kapoor, and Avantha Group promoter Gautam Thapar.
The probe took place after a money laundering case based on the predicate offence registered by the Central Bureau of Investigation (CBI), for illegal gratification in lieu of favours extended in connection with official work.
As per Kapoor’s request, Justice MG Deshpande of the special Prevention of Money Laundering Act (PMLA) Court has allowed conduct of his interrogation only under audio-visual surveillance and in the presence of his legal representatives.
The Court, in earlier hearing on August 20, had also allowed the Federal Agency’s plea to interrogate Kapoor between August 25 and 27 at the Taloja Central Prison.
Subsequently, the promoter of Yes Bank Ltd. filed recall application against the Court’s order passed on August 20, submitting that “In view of the fact that the accused had not been afforded an opportunity to be heard which is directly in contravention with his fundamental rights and as principles of Natural Justice were not obeyed.”
The Mumbai Court, while rejecting the recall application, observed, “In order to record Kapoor’s statement under Section 50 of Prevention of Money Laundering Act (PMLA), permission of this Court is necessary. Granting such permission by this court doesn’t make its order void-ab-initio to recall as prayed by this application.”
Also Read: Bombay High Court refuses bail to Yes Bank co-founder Rana Kapoor