spot_img
30 C
Guwahati
Tuesday, September 21, 2021
spot_img
HomeNationalSEBI orders defreezing accounts of former YES BANK CEO Rana Kapoor

SEBI orders defreezing accounts of former YES BANK CEO Rana Kapoor

New Delhi: Business Regulator SEBI ordered the defreezing of bank accounts, market shares, and mutual fund holdings of Rana Kapoor, former MD, and CEO of Yes Bank.

Kapoor is currently in legal custody after being caught in March 2020 in the alleged Yes Bank scam case.

The regulator, in March, had seized bank accounts, shares, and mutual fund holdings of Kapoor to collect dues of above Rs 1 crore.

The resolution was adopted following Kapoor’s failure to give the penalty imposed on him.

SEBI, in September 2020, had levied a penalty of Rs 1 crore on Kapoor for not getting revelations concerning a transaction of Morgan Credit, which was a confidential promoter entity of Yes Bank.

Without revealing the matter to Yes Bank’s board of directors, Kapoor produced a deep layer within him and stakeholders and disrupted the terms of the LODR (Listing Obligations and Disclosure Requirements) Regulation, Sebi had stated in the order.

The discharge order came following Supreme Court, on August 2, waited for the Securities Appellate Tribunal (SAT) order which had sustained a fine of Rs 1 crore on Kapoor. The stay was subjected to an amount of Rs 50 lakh by Kapoor.

In agreement with the Supreme Court’s interim order, the regulator recorded that he has deposited the cost.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Today's Weather

Guwahati
mist
30 ° C
30 °
28.4 °
74 %
0kmh
75 %
Tue
31 °
Wed
28 °
Thu
31 °
Fri
32 °
Sat
32 °

Watch latest Movies & TV Series on Prag Play

Most Popular