Avantha Realty - Yes Bank scam: Bombay High Court grants anticipatory bail to Bindu Kapoor

The Bombay High Court on Thursday granted anticipatory bail to Bindu Kapoor, wife of Yes Bank founder Rana Kapoor, in connection with a fraud case involving Avantha Realty..Single-judge Justice MS Karnik stated that Kapoor will have to co-operate with the investigation and not leave the country without the permission of the court. A co-ordinate bench of the High Court had on February 23, 2022 granted interim anticipatory bail to Bindu. It stated that in the event she is arrested by CBI, Bindu can be released on bail upon payment of ₹30,000 as bail bond amongst other conditions.This order was made absolute today. .Kapoor along with her husband and promoter of Avantha Realty. Gautam Thapar are allegedly being investigated by CBI in connection with a loan scam of over ₹1,700 crores.More than a year after the offence was registered by CBI, a chargesheet came to be filed in October 2021 charging the Kapoors, Thapar and two other companies of forgery, cheating and criminal conspiracy.After cognizance was taken, the CBI Court summoned Kapoor and asked her to remain present before the Court.Apprehending arrest, Kapoor filed an anticipatory bail application before the special CBI court on the grounds that the investigation in case was complete and a chargesheet had been filed without her..The special judge observed that since Kapoor had appeared through her counsel, the contention that her appearance through her advocate would not amount to custody, was not acceptable.Kapoor had also raised apprehension that if she applies for regular bail, it may be rejected and then she would be taken into custody. The special judge held that such an apprehension cannot be a ground to grant anticipatory bail..After this, Kapoor approached the High Court. She argued that the allegations are against the main accused Rana Kapoor and on the date when the transaction was completed and during the period of conspiracy, she was not in the country.She was roped in only because she is wife of the main accused, it was submitted.She also argued that the CBI did not find it necessary to arrest her during the probe and, therefore, there was no reason to take her in custody after the filing of chargesheet after responding to issuance of summons..CBI opposed the application stating Rana had obtained prime property through Bindu’s company for a much lesser price than the actual price.The actual price was ₹600 crores and it was purchased for ₹378 crores, it was alleged.The contention was that there was conflict of interest as Rana was controlling Yes Bank and he had extended credit facilities to Avantha Realty group and one property belonging to it was mortgaged with Yes Bank.This property was then purchased by Bindu’s company at a much lesser price than the market price.This, it was alleged, amounted to conflict of interest..Senior Advocate Aabad Ponda along with advocates Aditya Mithe and Siya Chaudhary appeared for Kapoor.Advocate Hiten Venegavkar appeared for CBI.

Avantha Realty - Yes Bank scam: Bombay High Court grants anticipatory bail to Bindu Kapoor

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