 "YES Bank, Rana Kapoor")
Securities and Exchange Board of India (SEBI) on Wednesday directed the defreezing of attached bank accounts/lockers/demat accounts and mutual fund folios of Yes Bank founder Rana Kapoor.
Kapoor is currently in judicial custody in connection with a money-laundering probe by the Enforcement Directorate.
In a release order addressed to the Principal Officer/Chairman and Managing Director/CEO of all the banks and mutual funds in India, SEBI informed, "recovery certificate dated February 11 has been drawn up by the Recovery Officer in the proceedings for recovery of a sum of Rs and the same was due in respect of the said certificate."
The market regulator also said that Notices of Attachment dated March 24, in the proceedings against Kapoor were issued attaching the bank accounts/ lockers, Demat accounts and mutual fund folios of the defaulter.
SEBI also noted that Supreme Court vide interim order dated August 2 under Civil Appeal had inter alia directed that "there shall be stay of the operation of the impugned order qua Rana Kapoor, subject to deposit of Rs 50,00,000 within a period of 4 weeks before the Supreme Court. In compliance of the aforesaid interim order, the defaulter has deposited on August 23 a Demand Draft dated August 18 of ICICI Bank for an amount of Rs 50,00,000 drawn in favour of the Registrar, Supreme Court of India."
In September 2020, SEBI had imposed a fine of Rs 1 crore on former Yes Bank Managing Director and CEO Rana Kapoor for violating disclosure regulations regarding a transaction of Morgan Credits Pvt Ltd, an unlisted promoter entity of Yes Bank.
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