SEBI orders defreezing of bank, demat accounts, MF folios of Rana Kapoor
The Hindu
SEBI has ordered the defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank
Capital markets regulator SEBI has ordered the defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank.
Kapoor has been in jail since March 2020 in connection with the DHFL money laundering case.
The markets regulator, in July, sent a notice to Kapoor asking him to pay ₹2.22 crore in a case of misselling the private sector lender's Additional Tier-1 (AT1) bonds and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.
This amount includes interest and recovery costs.
The demand notice came after Kapoor failed to pay the fine of ₹2 crore imposed on him by the Securities and Exchange Board of India (SEBI) in September 2022.
Thereafter, in September this year, the regulator attached bank as well as demat accounts along with mutual fund folios of the defaulter.
The release order came after the Securities Appellate Tribunal (SAT), through a ruling on September 12, granted an interim stay on a SEBI order in the case of misselling the private sector lender's AT1 bonds.
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