The Bombay High Court on Tuesday dismissed the bail applications of Yes Bank founder Rana Kapoor's wife and two daughters in a quid-pro-quo case involving private sector lender Dewan Housing Finance Corporation Ltd (DHFL).
Kapoor's wife Bindu and daughters Radha and Roshni had approached the high court after a special CBI court denied their bail plea and remanded them to 14-day judicial custody last week.
The applicants' lawyers had 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. The CBI, however, opposed the bail petitions, saying that by remanding the applicants in judicial custody, the special court was securing their presence for trial.
The central agency, which probes the corruption case, claims that 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.
Kapoor's wife and two daughters have been named as accused in charge sheets filed by the probe agency in the case, and the court, after taking cognizance of the charge sheet, had summoned the trio.
