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Tag: fraud case

  • Yes Bank Founder Rana Kapoor Granted Bail By Mumbai CBI Court In Fraud Case | Companies News

    New Delhi: Rana Kapoor, the founder of Yes Bank has been granted bail by a special CBI court in Mumbai in a fraud case. The court has expressed concerns that keeping him in custody without trial would be like “pre-trial conviction” of Rana.

    Kapoor was granted bail on Friday evening from the special CBI Judge, M G Deshpande. He walked out of the jail after over 4 years from Taloja Central Prison. This was the last pending case against him which involved the Avantha Group. (Also Read: Govt Oil Companies Conducts Free Safety Checks For All LPG Connections)

    Why was Rana Kapoor arrested?

    Kapoor was arrested by the Enforcement Directorate (ED) in a money laundering case in March 2020. He had to face charges in eight cases filed by both the ED and the Central Bureau of Investigation (CBI) which was related to fraud at the Yes Bank. (Also Read: Good News For Senior citizens: Health Insurance Now Available For Individuals Over 65)

    CBI filed a case against Rana Kapoor, his wife Bindu, industrialist Gaitam Thapar of the Avantha Group, Bliss Abode pvt Ltd and others. According to the allegations Kapoor while serving as the CEO of Yes Bank misused his position to acquire a prime property on Amrita Shergil Marg, Delhi’s upscale. He purchased it for a price lower than its market value and it belonged to a mortgage with Yes Bank.

    Bliss Abode Private Limited which was led by Rana kapoor’s wife Bindu Kapoor purchased the property for Rs 378 crore even though the market value of the property was 685 crore. The agency claimed that Yes Bank extended credit facilities of Rs 2500 crore to various Avantha Group Companies and granted an additional loan of 400 crore to Avantha Realty Ltd (ARL) as part of a quid pro quo deal, according to CBI. 

    What did Court say?

    The court’s order which was made available on Saturday said that there was no valid reason to continue detaining the applicant who has already spent 4 years in custody for multiple other cases.

    “It is significant to note the applicant (Kapoor) has deep roots in society and Mumbai. He has a family comprising an unmarried daughter and a wife who are dependent on him. He is no longer associated with Yes Bank and has no access to its records for any apprehension of tampering with it,” The court stated.

    The court further stated, “He (the special public prosecutor) cannot justify why the 66-year-old applicant, who suffers from multiple health issues as outlined in the bail application, should remain incarcerated indefinitely,”

  • Noida Information: Nigerian arrested for dishonest 10 crores at the pretext of creating industry spouse in Noida

    Noida: A Nigerian, who cheated greater than 25 other folks around the nation on social media at the pretext of creating pals first after which industry companions, has been stuck through the Sector-36 Cyber ​​Crime Police Station. In June 2021, the accused had duped Somitra Chakraborty, a resident of Ghaziabad, to the music of Rs 87,85,850 lakh at the pretext of creating him a spouse in his natural seed industry. Cybercrime police station in-charge Rita Yadav mentioned that the accused has been known as Maurice Sliver resident of Nigeria.

    At the moment the accused used to be residing in Dwarka, Delhi. Got here to India in 2015 for remedy on a scientific visa. After that began dishonest right here. Investigation has published that each the visa and passport of the accused have expired and he used to be residing right here in a pretend approach. Its data may also be shared with the embassy. The owner may also be puzzled about this. Delhi Police has been knowledgeable for this.

    Cyber ​​Crime Superintendent of Police Dr Triveni Singh mentioned that the accused had created a pretend ID named Omit Jona on social media to implicate other folks within the lure of dishonest. After this, he used to befriend the industry other folks first, and then he used to explain himself as a large businessman of The usa. For this, he used to ship some samples associated with his industry to the folk.

    The accused principally mentioned being a dealer of natural seeds. Then through creating a spouse, he used to cheat through announcing that he would give giant earnings. All over interrogation, the accused advised that he used to ship hyperlinks thru e-mails to other folks associated with his industry and for transactions. Used to delete the e-mail identification after the transaction of Rs. Along side this, he used to switch the cash taken through duping other folks to a couple of dozen accounts. These kinds of accounts had been rented from other folks residing in numerous portions of the rustic. The ones whom the accused used to provide some share to them.

    Used to make use of numbers of South India:
    Police have recovered 7 mobiles, 8 sim playing cards, 4 passports from Nigerian. All SIM playing cards are from South India. Those that had been issued with a pretend ID. Along side this, the police have traced the accounts of about 10 banks all the way through interrogation. Out of which the police have were given the transactions accomplished in two financial institution accounts. Wherein transactions of about Rs 3 crore had been accomplished within the remaining 1 12 months. Police may be probing the transactions of alternative accounts of the accused. Within the investigation, knowledge of greater than 25 other folks has additionally been discovered from the accused.

    Police confronted many issues in interrogation of Nigerian:
    After the arrest, the accused endured to do drama for a very long time. Each and every time the police requested the rest to the accused, he used to be giving the similar resolution. I’m really not responsible, depart me, after announcing this, the accused began shouting loudly. After that he used to be mendacity at the ground. After a lot effort, the accused has confessed to the fraud. The accused has additionally advised that a few of his mates are keen on drug smuggling.

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