A Mumbai court permitted the CBI to question Yes Bank founder Rana Kapoor over a loan to Ezeego One Travels & Tours Limited. Former Yes Bank MD and CEO Kapoor is under judicial custody.
A Mumbai court allowed the CBI to question Yes Bank founder Rana Kapoor over a private lender’s loan to Ezeego One Travels & Tours Limited. Kapoor, former Yes Bank MD and CEO, is under judicial imprisonment after the ED arrested him in March 2020 for financial irregularities-related money laundering. Kapoor is at Taloja prison, Navi Mumbai.
The CBI informed additional sessions judge BD Shelke on Thursday that it wanted to question Kapoor about the EOTTL loan case, which was registered in October 2020 on a Yes Bank complaint.
The examination revealed Kapoor’s “criminal complicity” as bank MD and CEO, said special public prosecutor Ashish Bilgaiyan.
Kapoor asked the bank to lend Rs 1060 crore to EOTTL, a Cox & Kings sister company, despite the firm’s terrible financial situation, the CBI stated.
Later, the company defaulted on repayment and its promoters failed to honor their personal loan guarantee, the agency informed the court.
It said Kapoor allegedly abused his official position by ordering bank personnel to lend EOTTL Rs 350 crore without security.
Even though EOTTL was a startup and the Cox & Kings group was in financial trouble, Kapoor maintained lending to it, the Central agency said, so it needed to interrogate him.
The court granted the appeal and ordered the jail superintendent to let CBI investigator Sarvjeet Mor and his team examine and record Kapoor’s statement.
Court ordered CBI will record hearings in video and audio.
Conclusion
A Mumbai court permitted the CBI to question Yes Bank founder Rana Kapoor over a loan to Ezeego One Travels & Tours Limited. Kapoor, former Yes Bank MD and CEO, was arrested for money laundering in March 2020 and is in judicial custody. Kapoor, who ran Yes Bank at the time, was accused by the CBI of “criminal complicity”. The court approved the request and ordered the jail superintendent to let CBI investigator Sarvjeet Mor examine and record Kapoor’s statement.
