Page 10 - Yes Bank

Yes Bank faces penalty of Rs 3 crore by Tamil Nadu GST department

Recently, the bank had received two separate tax notices from the Bihar GST department for Rs 20,000 and Rs 1,38,584, respectively, in December

CBI allowed to question Rana in Ezeego One Travels & Tours loan fraud case

A court here has allowed the CBI to question Yes Bank founder Rana Kapoor in connection with a loan granted to Ezeego One Travels and Tours Limited (EOTTL) by the private sector lender. Kapoor, 65, former MD and CEO of Yes Bank, is in judicial custody following his arrest by the Enforcement Directorate (ED) in March 2020 in a money laundering case linked to financial irregularities at the bank. He is currently lodged in the Taloja jail in neighbouring Navi Mumbai. The Central Bureau of Investigation on Thursday told additional sessions judge B D Shelke that it wanted to question Kapoor in the case related to the EOTTL loan, registered in October 2020 on a complaint filed by Yes Bank. "Criminal complicity" of Kapoor, who was the MD and CEO of Yes Bank during the relevant period, came to light during investigation, said special public prosecutor Ashish Bilgaiyan. At Kapoor's behest, the bank sanctioned a loan of Rs 1060 crore to EOTTL (a sister concern of Cox & Kings) despite the

Yes Bank co-founder Rana Kapoor gets bail in ED case related to loan fraud

A special court here on Thursday granted bail to Yes Bank cofounder Rana Kapoor in a money-laundering case linked to alleged financial irregularities at the bank. He, however, would not walk out of jail at present as he has not been granted bail in a related case registered by the Central Bureau of Investigation. Kapoor, 65, former MD and CEO of the private bank, was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) in March 2020. Special judge for PMLA court M G Deshpande granted Kapoor bail on Thursday. The trial in the case cannot begin and conclude in view of the expectations and guidelines laid down by the Supreme Court (in a different case), therefore he was entitled to relief under section 436-A of the Code of Criminal Procedure and deserves to be released on bail, the judge said. As per the section 436A, an under-trial prisoner has the right to seek bail on serving more than half of the maximum possible sentence prescribed for

YES Bank hikes FD rates by 25 bps, senior citizens can earn up to 8.25%

According to YES Bank's website, the highest interest rate of 7.50 per cent has been increased to 7.75 per cent for FDs maturing in 18 months to less than 24 months

PFC, Yes Bank: Trading strategies for stocks to be added to BSE 100 index

The BSE on Friday announced changes to its Sensex 50, Sensex Next 50 and the BSE 100 index; here's what the charts suggest for select stocks.

Relief for Zee Entertainment's Punit Goenka as SAT sets aside Sebi's order

With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity

Yes Bank acquires additional shares in JC Flowers ARC, raises stake to 9.9%

Yes Bank on Saturday said the bank has acquired 2.4 crore additional shares of J C Flowers Asset Reconstruction (JC Flowers ARC), taking its stake to 9.9 per cent. Shares of JC Flowers ARC were transferred from JCF ARC LLC to the bank on October 27, 2023, Yes Bank said in a regulatory filing. "On November 28, 2022, the bank had acquired 9.9 per cent of the equity share capital of JC Flowers ARC. Basis certain corporate actions in JC Flowers ARC, bank's stake had reduced to 5.01 per cent from 9.9 per cent," it said. However, it said, in accordance with share subscription and purchase agreement, the lender has now acquired additional shares in JC Flowers ARC so as to reinstate the bank's stake to 9.9 per cent. The bank acquired 24,643,558 equity shares of JC Flowers ARC at Rs 29.68 per equity share, having face value of Rs 10 at a premium of Rs 19.68 per unit for an amount aggregating to Rs 731,420,804. JC Flowers ARC is a company incorporated on May 6, 2015 under the Companies Act,

Stocks to Watch today: ICICI Bank, Hudco, NDTV, ABFRL, Samvardhan, Paytm

Stocks to Watch on Monday, October 23, 2023: Paytm said its revenue increased 32 per cent YoY to Rs 2,519 crore in the second quarter, with its consolidated net loss narrowing to Rs 291 crore

YES Bank posts 47% rise in Q2 profit helped by drop in loan-loss provisions

That was lower than analysts' average forecast of Rs 2.61 billion, according to LSEG data

HC refuses bail to Sanjay Chhabriaa in YES Bank money laundering case

The Bombay High Court has refused to grant default bail to realtor Sanjay Chhabriaa in the Yes Bank money laundering case, observing that money laundering involves intricate processes to make illegally-obtained money appear legitimate and hence require in-depth investigation. A single bench of Justice M S Karnik on October 9 dismissed Chhabriaa's petition seeking default bail on the ground that though the Enforcement Directorate (ED) submitted its prosecution complaint against him within the mandatory 60-day period, it had also sought permission from the special court to carry on further probe in the case. The ED's case was that while the probe against Chhabriaa was complete, the investigation regarding the case was still on. The high court in its order agreed with the agency and said the offence of money laundering involves multiple interconnected transactions and the same demands cumbersome investigation, and that the ED in the present case was investigating an economic offence ..

Sebi penalises YES Securities for wrong reporting of margin, discrepancies

Capital markets regulator Sebi has imposed a penalty of Rs 5 lakh on YES Securities (India) Ltd for wrong reporting of margin and discrepancy in the computation of client's net worth. It has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. The order came after Sebi, jointly with the Stock exchanges -- NSE, BSE and MCX -- conducted inspection of documents and other records of YES Securities (India) Ltd to verify the possible violation of stock brokers' rule. In its order, Sebi found several violations, including wrong reporting of margin and discrepancy in reporting of net worth of clients by YES Securities, during July 2021 to March 2022. The regulator said the brokerage house sent the retention statements after the prescribed time of five days and also mailed the statements of accounts to wrong email addresses. Further, it was found that the brokerage house had projected a wrong reporting margin of Rs 2,083. In ..

Yes Bank appoints Manish Jain as country head of Wholesale Banking

Jain succeeds Ravi Thota, who resigned in August, citing personal and professional reasons

Rana Kapoor gets relief from SAT; Bain Capital sells 2.82% in L&T Finance

Bain Capital sells 2.82% in L&T Finance

Subhash Chandra to settle JC Flowers' debt to reclaim Dish TV: Report

Chandra will also get back three properties, one of which is a bungalow in central Delhi

SAT declines to grant any immediate relief to Yes Bank's Rana Kapoor

Refusing to grant a stay on the notice, the tribunal pointed out that there was no urgency and asked the original matter to be heard as scheduled previously

Sebi issues Rs 2.22 cr demand notice to YES Bank's former MD Rana Kapoor

Sebi on Tuesday sent a notice to Yes Bank's former MD and CEO Rana Kapoor asking him to pay Rs 2.22 crore in a case of misselling the lender's AT-1 bonds and warned of arrest if he fails to make the payment within 15 days. The regulator also warned that his assets and bank accounts would be attached in case the payment is not made within the stipulated time. The case relates to misselling of the bank's AT-1 (Additional Tier-1) bonds to retail investors by the bank's officials. It was alleged that the bank and certain officials did not inform investors about the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT-1 bonds started in 2016 and continued till 2019. The demand notice came after Kapoor failed to pay the fine imposed on him by the Securities and Exchange Board of India (Sebi) in September 2022. In a notice issued on Tuesday, Sebi directed Kapoor to pay Rs 2.22 crore, which includes interest and recovery cost, within 15 days. In the event

YES Bank shares ends over 3% lower after June quarter earnings of 10%

Yes Bank shares on Monday ended more than 3 per cent lower due to higher provisions numbers which curtailed its net profit growth to 10 per cent in the June quarter. Yes Bank shares declined 3.65 per cent to close at Rs 17.40 apiece on the BSE. A similar movement was also seen on the NSE, where the stock witnessed heavy sell-off pressure at higher levels in the early trade and tanked 3.60 per cent to settle at Rs 17.40 per share. During the day, the stock witnessed a high of Rs 18.45 per piece on the exchange. In volume terms, 27.46 crore equity shares were traded on the NSE, while 4.59 crore shares were traded on the BSE. On Monday, the 30-share BSE Sensex settled 299.48 points or 0.45 per cent lower at 66,384.78 points. SBI-controlled Yes Bank has reported around two-fold rise in provisions for bad loans to Rs 360 crore in the June quarter as a large real estate borrower with Rs 400 crore dues became a dud loan during the quarter. This was because fresh slippages jumped to Rs 1

Stocks to Watch: RIL, ICICI Bank, Paytm, IGL, Biocon, YES Bank, Cyient DLM

Stocks to Watch on July 24, 2023: Tata Steel, HDFC AMC, Canara Bank, IDBI Bank, TVS Motor will announce their Q1 results today

YES Bank Q1 net rises 10% to Rs 342 crore, net interest income up 8%

Net interest income - the difference between interest earned and interest expended - grew by 8.1per cent to Rs 2,000 crore

YES Bank's net profit rises 10.3% in Q1, NII grows 8.1% to Rs 2,000 cr

YES Bank's provisions and contingencies, net of recoveries made against loan accounts written off as bad, more than doubled to Rs 360 crore from Rs 175 crore a year earlier