Rana Kapoor gets interim relief from Bombay HC but directors' appointment subject to final order.
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
The fight between Madhu Kapur, widow of bank's co-founder Ashok Kapur, and current Managing Director and CEO Rana Kapoor is not about money.
Yes Bank Ltd, a new private sector bank, will make its commercial launch in second quarter of 2004 with one branch each in Mumbai and Delhi.
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
They were arrested with the 'cooperation of district authorities of Satara on the strength of Non-bailable Warrant of Arrest issued by the Court of Special Judge, CBI Cases, City Sessions Court, Mumbai', CBI spokesperson R K Gaur said in New Delhi.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
After a gruelling 24 hours, the PhonePe team has fully restored UPI on the payment platform. The app is up and running again with ICICI Bank as its new partner with all payment instruments enabled.
'If I were a housewife, it would have been Ok. But I was set in my job and then suddenly I quit.'
Cox & Kings is currently going through the corporate insolvency resolution process. Around 2,500 operational creditors have submitted claims of over Rs 631 crore, 2,440 employees and workman have claimed dues of over Rs 94 crore and other creditors have submitted claims of over Rs 3 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
An Enforcement Case Information Report (ECIR), the ED's equivalent for a police FIR, has recently been filed by the federal probe agency, taking cognisance of a CBI complaint registered on August 21, the sources said.
Which were India's first companies that still exist today? Many trace their origins to over a century back. These venerable organisations are business entities. But they chronicle the beginnings of Corporate India.
The scrip was the worst hit among the front-line companies on both the indices during the day.
While the court refused to order a stay on the AGM, it directed YES Bank to advance its board meeting by a month to June 27 and consider Gogia's appointment as a director on the bank's board.
Even by conservative assumptions that 5 to 10 per cent of infected individuals develop long Covid, India today may be home to 50 to 100 million infected individuals -- many silently coping with breathlessness, fatigue, palpitations, brain fog, or unexplained clotting tendencies.
'When you compare Bihar's poverty from its earlier times, then there is a huge difference. Things have improved a lot. And migration has played an important role in reducing poverty.'
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
'If I had the chance now, I would have continued acting.' 'The cultures of Maharashtra and Bengal are different and I felt I had to give my best to be a good daughter-in-law and an ideal wife.' 'I never thought I could balance both.'
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
'Maharashtrians are facing a dual battle -- numerical battle with North Indians and financial battle with Gujaratis and Marwaris.' 'This has created anxiety about survival and ownership over Mumbai and Maharashtra.'
'There are tall personalities who have utilised Mumbai and Maharashtra for their career growth, but they never thought it is their responsibility to learn Marathi.'
'I don't know how long cinema will survive.'
'India has the potential to grow at more than 7%, with the monetary policy providing a supportive hand.'
'It is for the first time in Independent India that collection of information on caste is being done.'
SEBI alleges Jane Street placed bets on the stock market falling and then acted in a way to make the market actually fall so it could win its bet.
'What is going on is the under counting of the migration population in urban areas.' 'It has been going on in the last few censuses.'
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'
'We never waste a crisis. There will be learning and the supervisory tools will get better with each episode.'
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
The metro, it seems, is politics-proof -- even if it comes at a high cost.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
'I am determined now to celebrate all festivals together.' 'People don't respond much when you try to convince them by talking about principles of secularism etc. But if we revive our shared cultural practices, specially food, we may get a better response.'
The Supreme Court of India has refused to halt the redevelopment project of Dharavi in Mumbai, allowing the Adani Group to proceed with their project. The court rejected a plea from Seclink Technologies Corporation, the original highest bidder for the project in 2018, which challenged the tender process and the award to Adani Properties Pvt Ltd in 2022. The court directed Adani Properties to make payments through a single bank account and ordered Seclink Technologies to file an affidavit detailing their increased offer for the project. The project work has already commenced, with constructions underway and 2,000 people employed on the site.
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
Markets regulator Sebi on Wednesday ordered attachment of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank, to recover dues of over Rs 1 crore. The decision has been taken after Kapoor failed to pay the fine imposed on him. Sebi, in September 2020, had levied a fine of Rs 1 crore on Kapoor for not making disclosures regarding a transaction of Morgan Credit, which was an unlisted promoter entity of Yes Bank.
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