A Mumbai court docket has permitted the CBI to question Yes Bank founder Rana Kapoor in reference to a loan granted to Ezeego One Travels and Tours Limited (EOTTL) by the personal sector lender. Kapoor, who’s the previous MD and CEO of Yes Bank, is in judicial custody at current after he was arrested by the Enforcement Directorate (ED) in March 2020 in a cash laundering case linked to monetary irregularities on the financial institution. Kapoor is lodged in the Taloja jail in Navi Mumbai.
The Central Bureau of Investigation (CBI) on Thursday informed the extra periods choose BD Shelke that it needed to quiz Kapoor in the case associated to the EOTTL loan, which was registered in October 2020 on a grievance filed by Yes Bank.
“Criminal complicity” of Kapoor, who held the place of MD and CEO of the financial institution in the course of the related interval, got here to the fore in the course of the probe, stated particular public prosecutor Ashish Bilgaiyan.
The financial institution sanctioned a loan of Rs 1060 crore to EOTTLÂ (a sister concern of Cox & Kings) at Kapoor’s behest regardless of the agency’s weak monetary situation, the CBI stated.
Later, the corporate defaulted on compensation and its promoters additionally failed to honour their private assure for the loan, the company informed the court docket.
Kapoor additionally abused his official place additional and directed financial institution officers to grant a brief time period loan of Rs 350 crore to EOTTL with none further safety, it stated.
He saved on sanctioning loans to EOTTL although it was a start-up and there have been seen indicators of economic stress in the whole Cox & Kings group, the Central company stated, including that due to this fact it wanted to question Kapoor.
The court docket allowed the plea and directed the jail supritendent to allow CBI inspector Sarvjeet Mor and his staff to look at and document Kapoor’s assertion.
The CBI shall conduct video and audio recording of the proceedings, the court docket stated.
(With PTI inputs)
