The CBI claims Yes Bank lost more than Rs 2,700 crore after Rana Kapoor invested heavily in Anil Ambani-led companies. The charge sheet accuses both of criminal conspiracy, cheating, and corruption.
The Bombay High Court ordered Yes Bank to pay Rs 50,000 to Microfibers Pvt. Ltd for denying them a bank account without Aadhaar, despite a Supreme Court ruling prohibiting such demands. This ruling reinforces that private entities cannot force Aadhaar for services, affirming legal consequences for violations.
Today, On 22nd January, The Supreme Court referred pleas by the RBI and others concerning the write-off of Yes Bank’s Additional Tier-1 (AT-1) bonds to a different bench. AT-1 bonds are perpetual, high-risk instruments issued by banks to bolster their capital base, offering higher interest rates. The Reserve Bank of India has the authority to cancel these bonds in cases where the issuing bank faces financial distress.
Dheeraj Wadhawan, former director of DHFL, detained for a fraud of over Rs 34,000 crore. He remanded to judicial custody following his arrest by the CBI. Wadhawan’s bail plea based on medical grounds rejected, and he has to remain in custody until May 30. The fraud involves a consortium of 17 banks and accusations of money laundering.
Yesterday, 20th April, A recent court decision dealt a blow to the CBI’s case against Yes Bank’s former CEO Rana Kapoor, exposing weaknesses in evidence. The Mumbai special court granted bail to Kapoor, criticizing CBI’s allegations and emphasizing the need for a timely trial. The judge also highlighted concerns about selective targeting and the need for completion of investigations before trial.