SEBI ORDERS DEFREEZING OF BANK, DEMAT ACCOUNTS OF RANA KAPOOR

Markets regulator Sebi on Wednesday ordered defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor (pictured), former MD and CEO of Yes Bank.

Kapoor is currently in judicial custody after being arrested in March 2020 in the alleged Yes Bank fraud case.

The regulator, in March, had attached bank accounts, share and mutual fund holdings of

Kapoor to recover dues of over Rs 1 crore. The decision was taken after Kapoor failed to pay the fine imposed on him.

Sebi, in September 2020, had levied a fine of ~1 crore on Kapoor for not making disclosures regarding a transaction of Morgan Credit, which was an unlisted promoter entity of Yes Bank.

In February, the Sebi issued a demand notice to Kapoor, although he did not pay any dues.