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Home IN THE NEWS CRIME HAS NO GENDER

“No Sympathy For Being Women Or Mothers Of Small Kids” | Special CBI Court Rejects Bail For Yes Bank Rana Kapoor’s Wife & Daughters

Team VFMI by Team VFMI
September 19, 2021
in CRIME HAS NO GENDER, IN THE LAW, IN THE NEWS, OTHER COURTS
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mensdayout.com
"NO Sympathy For Being Women Or Mothers Of Small Kids | Special CBI Court Rejects Bail For Yes Bank Rana Kapoor's Wife & Daughters (Representation Image Only)

"NO Sympathy For Being Women Or Mothers Of Small Kids | Special CBI Court Rejects Bail For Yes Bank Rana Kapoor's Wife & Daughters (Representation Image Only)

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A Special CBI Court on Saturday rejected bail applications of Yes Bank Founder Rana Kapoor’s wife Bindu Kapoor and their two daughters Radha and Roshni Kapoor, for their prima facie involvement in the Rs 4000 crores Yes Bank – DHFL quid pro quo Case of 2020.

The court has remanded them to judicial custody till September 23.

Case:

According to the CBI, during 2018- 2019, Kapoor entered into a criminal conspiracy with Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Corporation Ltd for providing the latter’s companies financial assistance in lieu of “substantial undue benefit” to Kapoor and his family, through companies held by them.

The accused are booked for offences under:

  • Section 120-B r/w 409
  • Section 420
  • Section 468
  • Section 471

…of Indian Penal Code

&

Sections 7, 12, 13(1)(d) r/w 13(2) of Prevention of Corruption Act.

The three women approached the court for bail under section 437 of the CrPC.

The court held that the accusations prima facie show their complicity with other co-accused, more particularly, Rana Kapoor in the conspiracy. 

Prosecution

According to the prosecution, from April to June 2018, YES Bank invested Rs 3700 Crores in short-term debentures of DHFL and simultaneously Kapil Wadhawan paid a kickback of Rs 600 Crores under the garb of loan to DOIT Urban Ventures (India) Pvt. Ltd. (DUVPL). Kapoor’s wife Bindu and two daughters Radha and Roshni are 100% shareholders of DUVPL through another company, Morgan Credits Private.

They fraudulently and dishonestly received the illegal amount pretending to be a corporate loan of Rs 300 Crores, Rs 300 Crores and Rs 600 Crores.

Special CBI Court

Special Judge SU Wadgoankar observed that prima facie they are involved in a “grave and serious economic offence” which caused a loss of around Rs 4000 crores of money that belongs to the public at large including poor bank depositors, reported Live Law.

The court rejected their contentions that the trial won’t be completed in the future, they were women and that they wouldn’t tamper with evidence. Arguments that they were not arrested during investigation and chargesheet is already filed were also rejected. The judge remarked,

So the accused/applicants involved in grave offence affecting the economy of the country and continue to reap benefits of the crime committed by them don’t deserve any indulgence and any sympathy for them being women or mothers of small kids.

Adding further, Special Judge SU Wadgoankar observed,

They availed this amount by allowing wrongful loss to Yes Bank Ltd., which is of around Rs 4000 crores. Lakhs of depositors, who deposited the amount in Yes Bank Ltd, shareholders of Yes Bank Ltd. as well as DHFL have been duped and the banking credibility of the nation has been received serious set back.

The court further rejected their advocate Vijay Aggarwal’s argument that since the three were granted interim bail, their regular bail should be confirmed.

Prosecution submitted that jail superintendent doesn’t accept the custody of accused in jail without RT-PCR Report. Therefore, the court ordered the CBI to keep them in their custody till then.

Update As On September 28, 2021

The Bombay High Court on Tuesday refused bail to Yes Bank founder Rana Kapoor’s wife Bindu Kapoor and two daughters – Radha and Roshni Kapoor- in the Rs 4000 crore Yes Bank – DHFL quid-pro-quo case of 2020 being investigated by the CBI.

Justice Bharati Dangre observed that the applicants are alleged to have indulged in the commission of offences, which have resulted in a serious dent to the financial health of the State as well as defrauding the public at large. Justice Dangre quoted:

Such offences are occurring in plenty and have resulted in stultifying the overall growth of the nation and have also caused tremendous impairment to the economy of the nation. These crimes are more heinous in nature as they intend to destroy the economic fabric and financial edifice of the State.

Such crimes have the tendency to degrade and defy the faith of the public in law and order situation, as it tantamount to a serious blow to its economic/financial condition.

Radha Kapoor, the mother of two children, one of them an infant, claimed that her “sudden” and “unjustifiable incarceration” is likely to cause “inexcusable and unspeakable damage” to the physical and mental wellbeing of her young child.

However, CBI’s counsel Hiten Venegaonkar justified their incarceration. He argued that the special court could direct the accused to judicial custody once cognisance of the charge sheet was taken and the trial was yet to begin.

Venegaonkar argued that after being taken into custody by the Special Court, all parameters of 439 CrPC would apply, hence considering the merits and role of the accused, the CBI court was right in taking them in custody.

The petitioners said that they were entitled to a lenient view for bail because they were women. As per them, the statute mandates leniency towards women in matters of bail.

Update As On October 07, 2021

Supreme Court has granted interim bail to the trio, as reported by Hindustan Times.

ALSO READ –

Supreme Court Orders Husband To Pay Up Rs 4 Crore Alimony Despite Pandemic | Quashes Cases Against In-Laws

Supreme Court Rejects Bail For Husband Stating Allegations In Dowry Harassment FIR Are Always One Sided

Supreme Court Rejects Man’s Habeas Corpus Plea For Daughter As Child Is In Mother’s Custody

Supreme Court Acquits Woman For Killing New Born As “It Is Unnatural For Mother To Kill Her Own Baby”

Bombay High Court Rejects Husband’s Plea To Restrict Wife From Filing Divorce In Australia

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Irretrievable Breakdown in Marriage As Grounds for Divorce | Interview With SC Lawyer Prateek Som

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