The Supreme Court on Thursday granted interim bail to Yes Bank founder Rana Kapoor’s wife, Bindu Kapoor, and their two daughters, Radha Kapoor and Roshni Kapoor, in connection with the Rs 4,000-crore money laundering case, NDTV reported.
A bench of Justices SK Kaul and MM Sundresh granted the relief to the three after observing that the supplementary chargesheet against the accused people contained lesser charges, Live Law reported.
In May last year, the Enforcement Directorate filed a chargesheet against Kapoor, his wife and daughters before a special Prevention of Money Laundering Act court in Mumbai.
The Enforcement Directorate has been investigating Rs 600 crore received by DoIT Urban Ventures Private Limited, which is “controlled” by Bindu Kapoor and her daughters, from an entity associated with the scam-hit Dewan Housing Finance Limited.
DoIT Urban Ventures Private Limited allegedly received the funds when Yes Bank had an exposure of over Rs 3,000 crore loans to the housing finance company that were already being investigated for financial irregularities.
Last week, the Bombay High Court had rejected Bindu Kapoor, Radha Kapoor and Roshni Kapoor’s bail, saying that their offences had resulted in a “serious dent” to the country’s “financial health”.
They had even challenged the High Court’s orders in a special Central Bureau of Investigation court on September 18, which too had refused them bail.
The Reserve Bank of India had in March 2020 taken control of Yes Bank, after the lender – which is laden with bad debts – failed to raise the capital it needed to stay above mandated regulatory requirements. Placing Yes Bank under a 30-day moratorium, the central bank had imposed a limit of Rs 50,000 on withdrawals to protect depositors.