Bombay High Court reserves its order on bail plea of Rana Kapoor’s wife, daughters

The Bombay High Court Thursday reserved its order in a bail application filed by Rana Kapoor’s wife Bindu Kapoor and daughters Roshini and Radha Kapoor Khanna in a corruption case involving Dewan Housing Finance Ltd (DHFL).
The Kapoors, in three identical but separate bail pleas, challenged a special Central Bureau of Investigation (CBI) court order on Saturday that rejected their bail pleas and remanded them to judicial custody.

Counsels appearing for Bindu Kapoor and her two daughters argued that they had extended fullest cooperation to CBI and were not arrested during the investigation.

“On August 20, 2021, the trial court took cognizance of various non-bailable offences and summoned applicants to appear before it as an accused. The applicants immediately submitted to its jurisdiction by appearing personally on September 4, 2021, and moved a bail application in terms of Section 439 of CrPC,” argued counsel for the Bindu Kapoor.

However, special counsel Hiten Venegaonkar, appearing for the investigation agencies, countered this argument and said that the CBI court had already considered all these submissions before rejecting the plea.

Justice Bharati Dangre, after hearing all the parties, has posted the matter for the pronouncement of order to September 28.

“The interest of the investigation agencies stand protected as the Enforcement Directorate (ED) has attached properties and bank accounts of the applicant to the tune of Rs 600 crore under various provisional attachment orders,” argued the petition filed by Radha Kapoor Khanna.

As per the CBI, Rana Kapoor and his family members had allegedly received kickbacks of around Rs 600 crore for an investment of Rs 3,700 crore made by Yes Bank in DHFL’s debentures.

“Special Judge failed to consider that the applicant has been granted bail in the PMLA case arising out of the current FIR in the same facts and circumstances,” Khanna’s petition said.

While rejecting their bail petitions, the special court observed that the trio is involved in the wrongful loss of public money to the tune of Rs 4,000 crore, which belongs to the public at large, including bank depositors and shareholders.