[YES Bank scam] Special CBI Court refuses bail to wife, daughters of Rana Kapoor

A special court in Mumbai rejected the bail application of Yes Bank founder Rana Kapoor's wife, Bindu Kapoor and daughters Radha Kapoor and Roshini Kapoor in the corruption cases related to Dewan Housing Financial Limited (DHFL)..The Central Bureau of Investigation (CBI) had filed a supplementary chargesheet which named Bindu and Radha Kapoor as accused. However, the two had not been arrested.On the summons issued by the Special CBI Court, the two applicants appeared on September 4, 2021, when the Court had granted them interim bail. Roshini had been named accused along with Kapoor in the first chargesheet. .Special Judge SU Wadgaonkar on September 18, rejected the bail application on the ground that the accusations against the women showed their complicity with the other accused."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 ₹4000 crores, the applications deserve to be rejected," the Court held. .For this reason the Court also refused to consider the contention that the two petitioners were women and one of them was a mother to young children."The 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 the women or mother of small kids" the Court observed. .Denying them bail, the Special Judge remanded the wife and the daughters to judicial custody till September 23, 2021. .Kapoor's wife and daughters had moved the Special Court seeking bail under Section 437 (bail in case of non-bailable offence) of Code of Criminal Procedure in the FIR filed by CBI for offences of cheating, forgery, criminal conspiracy under India Penal Code and provisions of the Prevention of Corruption Act (PCA)..It was CBI's case that 14 accused entered into a criminal conspiracy with an common objective to cheat and defraud Yes Bank and DHFL.Kapoor, the MD and CEO of Yes Bank fraudulently extended financial assistance to DHFL in exchange of substantial undue benefit to himself and his family members through the company held controlled by them..The Court deduced from the facts and circumstances that the accused seemed to have received fraudulently and dishonestly the illegal amount under the garb of corporate loan of around ₹1,200 crores. "Lakhs of depositors, who deposited the amount in Yes Bank Ltd, shareholder of Yes Bank Ltd. as well as M/s DHFL have been duped and the banking credibility of the nation has been received serious set back," the court observed in the order rejecting bail..[Read order]