Bombay HC reserves orders on bail pleas of wife, daughters of Yes Bank founder Rana Kapoor

This picture has been used for representational purpose

The Bombay High Court on Thursday reserved the orders on bail applications of Yes Bank founder Rana Kapoor's wife Bindu Kapoor and daughters Radha and Roshini Kapoor in an alleged corruption case involving housing finance company DHFL.

They have challenged a special CBI court's orders denying them bail.

Justice Bharati Dangre is likely to pronounce the orders on September 28.

The CBI court here last week rejected the three women's bail pleas and remanded them in judicial custody till September 23.

The applicants' lawyers argued before the high court that accused are required to be arrested and remanded in custody only when there is a danger that they would abscond.

Also read: Yes Bank-DHFL case: No sympathy, says court, Rana Kapoor's wife, daughters remanded to judicial custody

Advocate Hiten Venegaokar, who appeared for the CBI, opposed the bail pleas. By remanding the applicants in judicial custody, the special court was securing their presence for trial, he contended.

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 central agency alleged.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.