PMLA court rejects Roshni Kapoor’s plea for foreign travel

Special public prosecutor Sunil Gonsalves, who represented ED, strongly opposed Kapoor’s application, contending that the applicant could abscond or delay the trial

MUMBAI: A special Prevention of Money Laundering Act (PMLA) court on Thursday rejected former Yes Bank CEO Rana Kapoor’s daughter Roshni Kapoor’s application for a 14-day trip to Paris. Kapoor claimed she was slated to attend a leadership programme in Hec Business School, Paris, and needed to travel to the city from November 13 to November 27. Kapoor had also prayed to suspend the look out circular (LOC) and direct the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) to return her passport.

Mumbai, India - March 11, 2020: Roshini Kapoor daughter of Yes Bank founder Rana Kapoor outside Enforcement Directorate office, in Mumbai, India, on Wednesday 11 Mar, 2020.

Special public prosecutor Sunil Gonsalves, who represented ED, strongly opposed Kapoor’s application, contending that the applicant could abscond or delay the trial. The court rejected the plea, observing that there was no authentic document showing that the applicant was enrolled at the school or that she was required to travel there for a particular programme.

Special judge MG Deshpande noted that the purpose of travel was not clear, and the document submitted by the applicant was a general brochure, very similar to an advertisement. Though copies of permissions granted by the court previously were annexed with Kapoor’s application, the court said it did “not itself amount a right to approach the court with such casual manner, that too as of right.”

“The application is made in a very casual manner without providing details of the institution/ organisation conducting the programme. Such casual approach cannot be the basis for directing ED/ CBI for suspending the LOC and further communicate the same to the Immigration Bureau. If such casual approach is entertained, there will be no control on the applicant and her activities, if any, contended by the ED/CBI,” the order stated.

Rana Kapoor was arrested in 2020 for allegedly misusing his position as chief executive officer of Yes Bank to obtain undue benefits. He allegedly entered into a criminal conspiracy with Kapil and Dheeraj Wadhawan from Dewan Housing Finance Corporation Ltd (DHFL), and extended loans to their firm in return for a “substantial undue benefit” to himself and his family members.

Rana Kapoor and his family members allegedly received around ₹600 crore in kickbacks from the Wadhawan brothers in lieu of an investment of ₹3,700 crore by Yes Bank in the short-term non-convertible debentures of DHFL and ₹283 crore in Masala Bonds of the tainted firm.