{"id":6977,"date":"2020-07-17T20:02:34","date_gmt":"2020-07-17T20:02:34","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=6977"},"modified":"2020-07-17T20:02:34","modified_gmt":"2020-07-17T20:02:34","slug":"yes-bank-fraud-case-against-rana-kapoor-sent-to-lower-court-for-trial","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=6977","title":{"rendered":"Yes Bank fraud: Case against Rana Kapoor sent to lower court for trial"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2018704 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/rana1.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2018704 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/rana1.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2018704 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/rana1.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/rana1.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/rana1-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">The PC Act was invoked by treating Kapoor as a `public\u00a0servant\u2019 as he was then CMD of <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/yes-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">Yes Bank<\/a>.<\/span><\/figure>\n<\/div>\n<p>The special CBI court here on\u00a0Friday sent the Yes Bank fraud case to a Metropolitan\u00a0Magistrate, as the CBI has not obtained sanction to prosecute\u00a0main accused Rana Kapoor under the Prevention of Corruption\u00a0(PC) Act.\u00a0Last month the Central Bureau of Investigation filed\u00a0a charge sheet against Yes Bank\u2019s co-founder Kapoor under the\u00a0Prevention of Corruption Act and Indian Penal Code.\u00a0But the agency has not yet initiated the process to\u00a0obtain the sanction needed to prosecute under the PC Act, the\u00a0court was informed.<\/p>\n<p>Upon the judge\u2019s query, the CBI said that\u00a0investigation against the accused was still going on and it\u00a0needed some time to deal with the issue of sanction.\u00a0It also argued that there was no need for sanction for\u00a0prosecution under IPC sections 420 (cheating), 409 (criminal\u00a0breach of trust by public person).<\/p>\n<p>The PC Act was invoked by treating Kapoor as a `public\u00a0servant\u2019 as he was then CMD of Yes Bank.\u00a0The court said it was not appropriate to keep\u00a0proceedings pending for indefinite period.\u00a0\u201cSo at this stage, the prima facie offences are made\u00a0out against all accused for the offences punishable under\u00a0Section 420(cheating), 409 (criminal breach of trust) of IPC\u00a0which is triable by Metropolitan Magistrate.<\/p>\n<p>\u201cAccordingly, the present proceeding of the case be\u00a0remitted to the Chief Metropolitan Magistrate, Esplanade, for<br \/>disposal according to law,\u201d it added.\u00a0As per the CBI, DoIT Urban Ventures (India) Pvt Ltd, a\u00a0firm linked to the Kapoor family, received funds of Rs 600\u00a0crore when Yes Bank had extended loans of more than Rs 3,000\u00a0crore to the scam-hit DHFL group.<\/p>\n<p>The bank allegedly did not make enough efforts to\u00a0recover the loan, and the funds received by DoIT Ventures were<br \/>kickbacks for going easy on loan recovery, it is alleged.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener 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Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/yes-bank-fraud-case-against-rana-kapoor-sent-to-lower-court-for-trial\/2027605\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PC Act was invoked by treating Kapoor as a `public\u00a0servant\u2019 as he was then CMD of Yes Bank. The special CBI court here on\u00a0Friday sent the Yes Bank fraud case to a Metropolitan\u00a0Magistrate, as the CBI has not obtained sanction to prosecute\u00a0main accused Rana Kapoor under the Prevention of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-6977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/rana1.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6977"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/6978"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}