CBI defends in HC lower court's order refusing bail to Rana Kapoor's wife, daughters

Mumbai: The CBI on Wednesday told the Bombay High Court that there was nothing legally wrong with a special court’s refusal to grant bail to Yes Bank founder Rana Kapoor”s wife and two daughters in a corruption and cheating case involving DHFL.

Justice Bharati Dangre of the high court was hearing pleas filed by Kapoor’s wife Bindu and daughters Roshini and Radha Kapoor seeking bail.

A special court for the Central Bureau of Investigation (CBI) cases here on September 18 denied the three women bail, stating that prima facie a loss of Rs 4,000 crore was caused to Yes Bank through illegal acts involving them.

The court, while remanding them in 14-day judicial custody, had also said they did not deserve any special sympathy for being women.

All three are presently lodged at the Byculla women”s prison here.

In their petitions in the HC against the order, the three women questioned the special court’s observation that accusations against them prima facie showed complicity in receiving loans as quid pro quo for favours shown by Yes Bank to DHFL, a private sector lender.

Advocate Hiten Venegavkar, the CBI’s lawyer, argued before the high court on Wednesday that the special court was merely securing the presence of the accused for trial, which was why they were sent in judicial custody. The bail pleas were rejected on merits, he said.

When cognizance of a charge sheet is taken and trial is yet to begin, under section 309 of the Code of Criminal Procedure a trial court has the power to send the accused in judicial custody, he argued.

Senior advocate Mahesh Jethmalani, appearing for Bindu and Radha Kapoor, contended that arrest and custody is required only in special circumstances where there is a possibility of the accused absconding.

Senior counsel Amit Desai, appearing for Roshini Kapoor, pointed out that she appeared before the special court when summons was issued.

“It is important to note that she appeared and was going to co-operate and would continue to do so,” he said.

The high court court will continue the hearing on Thursday.

As per the CBI, Rana Kapoor — presently in jail in connection with a related case being probed by the Enforcement Directorate — entered into a criminal conspiracy with DHFL”s Kapil Wadhawan.

Between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL. In return, DHFL paid a kickback of Rs 900 crore to Kapoor in the form of loans to DoIT Urban Ventures, a firm controlled by Kapoor”s wife and daughters, the CBI has alleged.