HC rejects bail plea of Yes Bank founder
Updated:
Updated:
Share Article
AAA
The Bombay High Court on Monday rejected the bail plea filed by YES Bank founder Rana Kapoor who is lodged at Taloja Central Jail in the money laundering case.
Senior advocate Harish Salve represented Mr. Kapoor and argued before a Single Bench of justice PD Naik that there has been no money laundering, but a simple loan transaction. He added those loans have been repaid however no money has been received in the name of Mr. Kapoor.
The Enforcement Directorate’s (ED) counsel Hiten Venegavkar opposed the plea and said Mr. Kapoor conspired with Kapil and Dheeraj Wadhawan of Dewan Housing Finance Limited (DHFL) and siphoned off ₹5050 crores from Yes Bank.
The Enforcement Directorate on Monday raided at least 10 premises of a Mumbai-based realty group in connection with its money laundering probe in the Yes Bank alleged bank fraud case, official sources said. The company, Omkar Realtors and Developers, called the action a routine enquiry carried out by the Enforcement Directorate (ED) and said it is a matter related to some writ petitions filed against it before the Bombay HighCourt. It added that it has not diverted any funds and has acted as per legal rules and regulations . The premises of the company, which include seven residential and three official premises in Mumbai, were searched by the central probe agency.
Updated:
Share Article
AAA
A magistrate court on Friday rejected the bail pleas filed on merit by Kapil Wadhawan and Dheeraj Wadhawan, promoters of Dewan Housing Finance Limited (DHFL), in the Yes Bank fraud case.
The Central Bureau of Investigation (CBI) in its FIR had claimed that Yes Bank had invested ₹3,700 crore in short-term debentures of DHFL between April and June 2018 for which the Wadhawans allegedly gave a kickback of ₹600 crore to bank’s former CEO and managing director Rana Kapoor in the form of loans to DoIT Urban Ventures (India) Pvt. Ltd., a company registered in the name of Mr. Kapoor’s daughters.
Piramal Group claims its bid for DHFL highest and compliant with norms
Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable.
Photo credit: Twitter
Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms.
Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable.
Mumbai magistrate court rejects bail plea of DHFL promoters
Mumbai magistrate court rejects bail plea of DHFL promoters
A magistrate court in Mumbai has rejected the bail application of Dewan Housing Finance Limited promoters who are accused in the Yes Bank scam.
advertisement
DHFL was once one of India’s top “shadow” lenders, as per Reuters. (Photo: Reuters)
The magistrate Esplanade court in Mumbai on Friday rejected the bail applications of Kapil and Dheeraj Wadhwan of Dewan Housing Finance Limited (DHFL) in connection with the CBI case against them in the alleged Yes Bank scam.
In April 2020, both the Wadhwans were arrested and were produced before the Special CBI Judge on April 27, 2020. The duo was in police custody before being sent to judicial custody on 10 May 2020.