InvestorQ : Why has SEBI ordered de-freezing the bank accounts of Rana Kapoor?
Rutuja Nigam made post

Why has SEBI ordered de-freezing the bank accounts of Rana Kapoor?

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4 months ago
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That is in compliance with the Supreme Court order given recently. As a result, SEBI ordered defreezing of bank accounts as well as the equity and MF holdings of former Yes Bank MD, Rana Kapoor. Mr. Kapoor continues to be in judicial custody since Mar-20, when RBI imposed a freeze on Yes Bank deposits and the ED found Rana Kapoor guilty of alleged malpractices including charges of round tripping of funds.

SEBI has already imposed a fine of Rs.1 crore on Rana Kapoor for lapses in disclosure regarding connected party transactions of Morgan Credit, which is also owned by Rana Kapoor and his family. This SEBI order comes after the Honourable Supreme Court stayed the SAT approved penalty of Rs.1 crore on Kapoor. That is because, Kapoor had already complied with the Supreme Court order and deposited 50% of the said amount.

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