Bail Pleas of Rana Kapoor’s Wife, Daughters Rejected

A special Central Bureau of Investigation (CBI) court here Saturday rejected the bail pleas of family members of jailed baker Rana Kapoor, arrested in connection with the alleged fraud caused to the Yes Bank Ltd (YBL).

The court remanded his wife, Bindu and daughters Roshini and Radha Kapoor Khanna to Judicial custody.

Observing that the trio are involved in the wrongful loss of public money to the tune of Rs. 4,000 crores which belongs to public at large including poor bank depositors and shareholders, judge SU Wadgaonkar opined, “…considering the gravity and nature of offence and in the larger interest of society, as accused/applicants involved in causing wrongful loss to the huge public money of Rs. 4,000 crores. Accordingly, applicants (bail plea) deserve to be rejected.”

The trio will be lodged at Mumbai’s By-culla district jail which is meant for female under trials and convicts.

The court further observed that the accused show complicity with co-accused Rana Kapoor and are the beneficiary of the amount fraudulently and dishonestly obtained by Kapoor. “… They have received fraudulently and dishonestly the illegal amount pending to be a corporate loan of Rs. 300 crores, Rs. 300 crores and Rs. 600 crores, so actual beneficiary of the said amount,” the order accessed by ET states.

The court also rejected the Defence counsel, advocate Vijay Aggarwal’s contention that bail should be granted on the ground that they are women.

“…. applicants involved in grave offence affecting the economy of the country and are continue to reap the benefits of the crime committed by them, do not deserve any indulgence and any sympathy to them being women or mother of small kids. S-ET

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