Page 12 - Yes Bank

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

Subhash Chandra moves to get family's stake in Dish TV back from JC Flowers

With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth

DHFL-YES Bank case: Wadhawan denied bail; his delay for police escort noted

Dheeraj Wadhawan, one of the promoters of DHFL currently in jail in a case pertaining to alleged fraud connected to Yes Bank, was denied medical bail by a special court which observed he had not paid Rs 24 lakh for police escort provided to him during his long hospitalisation. In his order of July 14, the details of which were made available on Monday, the special CBI judge MG Deshpande noted that the police had to knock the doors of the court to recover this amount. The judge said the illness for which medical bail has been sought doesn't require any long hospitalization or interim bail, adding that the gravity and magnitude of the alleged offence committed by the accused cannot be ignored. In his plea, Wadhwan sought medical bail on the grounds that he has serious heart related medical issues, citing he had suffered a massive heart attack at the age of 38 in January, 2018, which required emergency angioplasty in Switzerland. The court, however, said medical science was more advan

Barclays and Yes Bank raise India's inflation forecast as prices jump

Surging prices of vegetables and pulses pushed up inflation to a three-month high of 4.81% last month, ending four months of moderation

Fresh legal battle brews between Dish TV and lenders on board recast

Lenders, who own a majority stake in the company, have called for removal of the existing two-member board of S Aggarwal and Rashmi Aggarwal

Yes Bank's loan book grows 7.5% to Rs 2 trn in quarter ending June

It deposits grew 13.5 per cent YoY to Rs 2.19 trillion at end of June 2023

FEMA case: Reliance ADA Group chairman Anil Ambani appears before ED

Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) here in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in the Ballard Estate area to record his statement in the case, registered under various sections of the Foreign Exchange Management Act (FEMA), they said. Further details of the case in which Ambani was summoned were not immediately known. The industrialist had appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.

YES Bank-DHFL scam: Court says nation is victim, denies bail to realtor

A special CBI court here has denied bail to Pune-based builder Avinash Bhosale in connection with a case pertaining to the Yes Bank-DHFL scam, saying the nation is the victim of cheating and criminal conspiracy. The court said that prima facie Bhosale's involvement in this serious economic offence is deep-rooted. While Special Judge M G Deshpande denied bail to Bhosale on June 23, the detailed order was available on Tuesday. The court said that Yes Bank's money, which is basically public money and the wealth of the nation, was usurped. The bank was cheated by wisely hatching criminal conspiracy by accused persons. Money of Yes Bank is the wealth of the Nation. Nation is victim of this offence of cheating and criminal conspiracy, the court said, declining to give relief to Bhosale. The special judge said that the way the fraud was committed, granting bail to the applicant (Bhosale) is not safe and there is every possibility of spoiling the case by tampering with the evidence and ..

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook. "The rating affirmation and stable outlook is driven by the improvement in India's macro profile to 'moderate+' from 'moderate', along with Moody's expectation that Yes Bank's financial performance will remain stable over the next 12-18 months," Moody's said in a statement. The agency expects Yes Bank's asset quality to be stable as the bulk of its legacy problem assets have been resolved, while India's good economic momentum will support the performance of its newly originated loans. The bank's gross non-performing loan ratio declined to 2.2 per cent at the end of March 2023 from 13.9 per cent a year earlier, following its sale of non-performing loans (NPL)

RBI rejects Akash Suri's appointment as CEO of JC Flowers Yes Bank: Report

In a major setback to Yes Bank, sources close to developments have revealed that the Reserve Bank of India (RBI) has rejected the appointment of Akash Suri as the CEO of the JC Flowers Yes Bank ARC