Yes Bank fraud case: Court rejects CBI chargesheet against Rana Kapoor as no sanction obtained
A special court on Friday (July 18, 2020) refused to accept the charge sheet filed by the Central Bureau of Investigation (CBI) against Rana Kapoor and others accused in the Yes Bank cheating case.
The CBI failed to obtain sanction to prosecute Rana Kapoor, a public servant, under the Prevention of Corruption Act.
The CBI which submitted its charge sheet in the case had made a plea for the court to take its cognizance.
A charge sheet has been filed against Kapoor and seven others claiming he had entered a criminal conspiracy with the Wadhawans, extending financial assistance to DHFL.
Earlier in March, CBI had registered two cases against Rana Kapoor, Yes Bank’s co-founder, former managing director (MD) and chief executive officer (CEO).
An FIR filed on March 7 had alleged that the bankrupt YES Bank had invested Rs 3,700 crore in short-term debentures of Dewan Housing Finance Corporation (DHFL) between April and June 2018.
In return, Kapoor was allegedly paid “kickbacks” to the tune of Rs 600 crore by DHFL promoter, Kapil Wadhawan.
ED filed a second charge sheet on Monday, naming Kapil and Dheeraj Wadhawan and the firms that they had allegedly floated to indulge in money laundering.