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DHFL fraud case: Court grants bail to Yes Bank co-founder Rana Kapoor’s daughter Roshini
Roshini is one of the eight accused, who have been booked by the CBI on charges of fraud and corruption. Earlier, corruption charges were dropped by a sessions’ court for want of sanction of prosecution, but allegations of cheating and conspiracy remain
A magistrate court on Thursday granted bail to Yes Bank co-founder Rana Kapoor’s daughter Roshini in a fraud case linked to scam-hit Dewan Housing Finance Corporation Ltd (DHFL).
Roshini is one of the eight accused, who have been booked by the Central Bureau of Investigation (CBI) on charges of fraud and corruption.
Earlier, corruption charges were dropped by a sessions’ court for want of sanction of prosecution, but allegations of cheating and conspiracy remain.
Later, the case was shifted to the magistrate court for trial.
Also read | Yes Bank fraud case: Bombay HC rejects default bail pleas of DHFL promoters Kapil, Dheeraj Wadhawan
In October, the magistrate court accepted the charge sheet filed by the CBI and issued summons to all the accused, who are not arrested in the case, including Roshini, and representatives of four other companies such as DHFL, Belief realtors Pvt Ltd, RKW Project Pvt Ltd, DOIT Urban Ventures (India) Pvt Ltd.
Roshini responded to the summons, appeared before the magistrate court and sought bail. “A bail plea was moved in October,” said Subhash Jadhav, the lawyer for the Kapoor family.
The court had granted her interim relief from arrest till further arguments on the bail plea.
On Thursday, the court rejected the CBI’s plea to send Roshini to judicial custody and granted her bail.
The CBI has alleged that Yes Bank had invested Rs3,700 crore in short-term debentures of DHFL between April and June 2018 in lieu of which Kapoor was paid kickbacks to the tune of Rs600 crore.
DHFL promoter Kapil Wadhawan paid the kickbacks to Kapoor in the form of a loan to DoIT Urban Ventures (India) Pvt Ltd, a wholly-owned subsidiary of RAB Enterprises, where Kapoor’s family, including his daughter Roshini, holds stake, the CBI has claimed.
The loan was sanctioned on the mortgage of sub-standard property having a meagre value, the Central probe agency has alleged
The CBI has further alleged that Yes bank also sanctioned a loan Rs750 crore to M/s RKW Developers, which belonged to DHFL.
Though the loan was sanctioned for the Bandra Reclamation project, the sum was allegedly siphoned off by Wadhawan. M/s RKW Developers transferred Rs750 crore to DHFL without making investment in the project, the CBI has alleged.
