'Not Been Arrested During Investigation, Unjustifiable Incarceration' – Rana Kapoor's Wife, Daughters Approach Bombay High Court For Bail

The trio have sought bail stating that they have extended "fullest cooperation to CBI" and according to the settled law, since they weren't taken into custody at the time of investigation, they were entitled to bail.

Radha Kapoor, mother to two children, one an infant, claimed that her "sudden" and "unjustifiable incarceration" is likely to cause "inexcusable and unspeakable damage" to the physical and mental wellbeing of her young child.

The bail applications filed by advocate Archit Jaykar were mentioned before Justice Bharati Dangre on Monday. However, the court did not grant any urgent reliefs and posted the matter for hearing on Wednesday.

According to the CBI, during 2018- 2019, Kapoor entered into a criminal conspiracy with Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Corporation Ltd for providing the latter's companies financial assistance in lieu of "substantial undue benefit" to Kapoor and his family, through companies held by them.

After the Special Court took cognisance of CBI's supplementary charge sheet against them, they were summoned to appear as accused. They appeared personally on September 4 and sought bail under section 439 of the CrPC.

On Saturday, Special Judge SU Wadgoankar observed that prima facie they are involved in a grave and serious economic offence which caused a loss of around Rs.4000 crores to the public at large including poor bank depositors.

"So, the accused/applicants involved in grave offence affecting the economy of the country and continue to reap benefits of the crime committed by them don't deserve any indulgence and any sympathy for them being women or mothers of small kids...," the court observed.

Grounds

In addition to the grounds before the Special court, they claimed that their case fits squarely under the authoritative pronouncement in Aman Preet Singh's case.

"It is settled law that the very circumstance of an accused person not having been arrested by police during investigation is sufficient to entitle him/her to be released on bail upon their appearance before the court in pursuance to summons," they said in the application.

The petitioners said that they are entitled to a lenient view in the matter of bail because they were women. As per them, the statute mandates leniency towards women in matters of bail.

They further claimed that the Enforcement Directorate has already attached properties and bank accounts of theirs to the tune of 600 crores under various provisional attachment orders and that they have already been granted bail by the Special PMLA court.

The accused are booked for offences under sections 120-B r/w 409, 420, 468 and 471 of Indian Penal Code and Sec.7, 12, 13(1)(d) r/w 13(2) of the Prevention of Corruption Act. The three women approached the court for bail under section 437 of the CrPC.

According to the prosecution, from April to June 2018, YES Bank invested Rs.3700 Crores in short-term debentures of DHFL and simultaneously Kapil Wadhawan paid a kickback of Rs.600 Crores under the garb of loan to DOIT Urban Ventures (India) Pvt. Ltd. (DUVPL). Kapoor's wife and two daughters are 100% shareholders of DUVPL through another company, Morgan Credits Private.

Case Title: Bindu Kapoor & Ors V. CBI, EO-1, Delhi