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YES Bank Collapsed !! Who is next? Is it Kotak Mahindra Bank Limited?

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The Enforcement Directorate has also issued a lookout notice against Rana Kapoor, Ex-promoter & Director of YES Bank to keep him from leaving the country. ED officials are reportedly recording Kapoor’s statement in connection with DHFL scam, where the company siphoned off Rs 13,000 crore via 79 shell companies. YES, Bank had extended massive loans to DHFL, which later turned bad, adding to the bank’s losses, reports said.

This is serious of banking fraud in the country in which IL&FS, Dewan Housing Finance Limited, and PMLC Bank are included. Now a question  arises Who is next?

FIR No. 120/2019 registered against Kotak Mahindra Bank Ltd and six other accused including Mr. Uday S. Kotak, MD & CEO

As reported earlier an FIR No. 0120/2019 dated 19/10/2019 has been registered at PS Barakhamba Road, New Delhi against Kotak Mahindra Bank Ltd and six other accused including Mr. Uday S. Kotak, MD & CEO, for their role in a scam of forgery of documents vide order dated 14.10.2019 of MM Patiala House Courts, New Delhi who has taken view that as the matter requires investigation by police, several documents are to be collected and verified and a number of persons are to be examined.

After registration of the said FIR for committing fraud and forgery by Kotak Mahindra Bank and others including Uday S. Kotak and Anand Mahindra, Bagla family has also filed a complaint with the Court of Chief Metropolitan Magistrate, New Delhi, under Section 200 r/w 190 Cr. P.C. for taking cognizance of offenses Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC, against Kotak Mahindra Bank Ltd & others.

In the complaint apart from one Virendra Kumar Sharma, Kotak Mahindra Bank and its Directors & Company Secretary and other officers namely Mr. Uday Suresh Kotak, Managing Director, The Regional Manager, Kotak Bank (Delhi & NCR), Mr. Anand Mahindra, Mr. Shivaji Dam, Mr.Chengalath Jayram, Dipak Gupta, Ms.Bina Chandarana, Company Secretary, Mr. Chandra Shekhar Prasad (The Then Deputy Manager, Legal),  Mr. Sanjay Kumar, Officer, Kotak Bank, and CVIL Infra Limited and Bennett Coleman & Company Ltd., were made accused.

It has been alleged in the complaint that the above named accused in connivance with the each other, falsely implicated one Bhupendra Bagla son of Dr. Santosh Kumar Bagla (a renowned business family based at Mumbai & Delhi) in a criminal case by using forged and fabricated documents created and used by the above named accused.

Transfer of FIR No. 120/2019 to DIU/NDD Mandir Marg, New Delhi

Further, on filing the status report on 10.12.2019 in FIR No. 120/19 U/s 420/34 IPC has been registered on 19.10.2019 and the case was entrusted to SI Sanjay Kumar P.S. Barakhamba Road, New Delhi. Thereafter, the case file was transferred to DIU/NDD, Mandir Marg and further investigation is being taken over by SI Sanjay Kumar, DIU/NDD.

Subsequently, DIU/NDD issued Notice U/s 91 Cr. PC to Mr. Uday Kotak  (Vice- Chairman & Managing Director), Mr. Chengalath Jayaram (Joint Managing Director), Mr. Deepak Gupta (Director) and the Concerned Officials, where he has directed all the above to produce the required documents/articles before the undersigned within three days of receipt of the said Notice.

Complaint about Malicious Prosecution and defamation by Bagla family against Kotak Mahindra Bank and others including Uday Kotak and Anand Mahindra.

After registration of an FIR for committing fraud and forgery by Kotak Mahindra Bank and others including Uday S. Kotak and Anand Mahindra, Bagla family has also filed a complaint with the Court of Chief Metropolitan Magistrate, New Delhi, under Section 200 r/w 190 Cr. P.C. for taking cognizance of offences Committed U/s 211 (IInd Part), 499/500, 501, 502 r/w 120B/34 IPC, against Kotak Mahindra Bank Ltd & others. 

Direction of PMO to the Secretary, Department of Financial Services (Banking Division) in the matter of conspiracy and forging and fabricating of documents by Kotak Mahindra Bank.

Bagla family has sent a Representation / Complaint dated 14th August 2019, against the frauds, forgery, and illegalities of Kotak Mahindra Bank and its officials for taking appropriate action against Mr. Uday Suresh Kotak, MD & CEO and his other associates i.e. Directors/officials of Kotak Mahindra Bank and other person involved in the conspiracy of committing the offense against the Bagla family, to Hon’ble President of India, Prime Minister of India & Other Central & State Government authorities.

The PMO had directed the Secretary, Department of Financial Services (Banking Division) for action as appropriate in the matter of complaint against Kotak Mahindra Bank Limited, its MD & CEO Mr. Uday S. Kotak and other senior officials for alleging conspiracy, fraud and forgery of some documents. [Ref: Replies dated 03/09/2019 and 04/09/2019 from PMO with Registration No. PMOPG/D/2019/0318007 & PMOPG/ D/2019/ 0320812].

Bagla family has received replies from President Office dated 23/08/2019 with Registration No. P1/E/2308190138, wherein the Complaint of the Applicants was transferred to “The Secretary, Ministry of Finance for action as appropriate”. Also, other authorities/office has issued the instruction of the Secretary of Finance to take the action in the said matter.

New strategies of Kotak Mahindra Bank Limited to divert the issue of forgery and fabrication of documents.

As the Kotak Bank is under investigation and has to face the consequence of FIR/Complaints registered against them, therefore, after registering an FIR, Kotak Mahindra Bank Limited has made a miscellaneous application before the DRT for return of original documents filed along with original application bearing no. 57 of 2009. It is also interesting to note that forged and fabricated documents including one affidavit and a power of attorney both dated 24.08.2007 was filed by Kotak Mahindra Bank Limited before DRT as a Copy of the document. No original documents were filed by Kotak Mahindra Bank Limited. This is a tactic of the Kotak Mahindra Bank only for the delay and diverts the matter.

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IPRS Stage Brings India’s Rich Musical Tapestry to Life at Serendipity Arts Festival 2024

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IPRS Stage Brings India's Rich Musical Tapestry to Life at Serendipity Arts Festival 2024

Mumbai, December 26th, 2024: The IPRS Stage made a historic debut at the Serendipity Arts Festival 2024 in Panaji, Goa, marking a groundbreaking collaboration between one of the nation’s foremost art festivals and IPRS, the sole representative body of authors and composers of music in India. This partnership reflects a shared mission to discover, promote, and celebrate the hidden music and talent of our nation. From December 15 to 22, the event celebrated India’s rich musical diversity by bringing traditional, folk, and undiscovered talent to the forefront, connecting artists with audiences and industry insiders on an unprecedented platform.

From the enchanting Mythical Melodies by Dr. Ulka Mayur to the mesmerizing Discovering Hidden Melodies of India by Folks Wagon and the spellbinding Jaadoo Bastar by Daira, the performances celebrated India’s rich musical heritage while shining a spotlight on the exceptional talent that defines our nation. These acts not only bridged the gap between traditional and contemporary music but also underscored the critical role of folk and regional music in keeping India’s cultural identity alive. By blending age-old traditions with contemporary expressions, they highlighted the enduring relevance of these art forms and emphasized the need to nurture and sustain them for future generations.

On December 19, the panel discussion, “Navigating Intellectual Property Rights in the Music Industry,” featured industry experts Rakesh Nigam, CEO of IPRS, Atul Churamani, MD Turnkey Music and Publishing Pvt. Ltd., Mayur Puri, leading lyricist, author, director, actor and IPRS Board Member, and Rafael Pereira, Managing Partner Tinnuts, Executive Trustee – India Music Exchange. The session provided valuable insights into copyright, royalties, and essential best practices, emphasizing the critical need to protect intellectual property rights in today’s rapidly evolving music landscape. It underscored the evolution of the Indian music industry and highlighted the robust framework of the country’s copyright law, designed to safeguard the interests of creators and rights holders. The discussion further stressed the importance of fair enforcement to promote creativity, ensure equitable remuneration for all stakeholders, and foster a more inclusive and sustainable ecosystem for music.

Reflecting on the success of the event, Mayur Puri, songwriter, actor, and IPRS Board Member, shared, “The IPRS Stage is more than a platform for performances; it’s a celebration of legacy. By uniting diverse musical genres, IPRS highlights the richness of our nation’s cultural heritage and musical diversity. It’s truly inspiring to witness artists, including those from the remotest corners of the country, gaining well-deserved recognition and appreciation. This initiative plays a vital role in ensuring our cultural roots thrive in contemporary times, while also introducing audiences to a treasure trove of music that fosters pride and deepens appreciation for our artistic heritage.”

Commenting on the partnership with IPRS, Smriti Rajgarhia, Director, Serendipity Arts said, “It’s been a great pleasure to associate with IPRS. We started the festival to bring together partners from the cultural industries that contribute to the context in which practice is created and furthered. Our panels with IPRS, which were streamed live online, are now an archive of this partnership. The artists that performed on the IPRS stage were unique and created magic that we will remember fondly as one of the highlights of Serendipity Arts Festival 2024. From Ulka Mayur’s Mythical Melodies, to Madhur Padwal and Daira’s Jaadoo Bastar, each of these performances highlighted the incredible talent and rich tapestry of India’s musical landscape.”

Madhur Padwal of Project Folks Wagon expressed, “We, the artists of Project Folks-Wagon are excited and honoured to be a part of the inaugural episode of the IPRS stage at the Serendipity Arts Festival 2024. It’s an amazing opportunity to contribute to such a vibrant and creative event. We have always believed that folk and traditional music holds immense healing, energetic and entertaining power. Reviving the folk and traditional music of our country is not only important but essential in recent times. It is our sincere effort to contribute to its sustainability in the long run. A special mention to IPRS for taking up this initiative in collaboration with the Serendipity Arts Festival, providing folk and traditional artists with a valuable opportunity to share their art with a wider audience and contribute to reviving the fading Indian folk music.”

Dr. Ulka Mayur, who led Mythical Melodies, added, “The IPRS stage is a remarkable initiative that brings into focus regional artists and India’s rich musical traditions. By bringing these voices to the forefront, it safeguards our cultural heritage while giving it the recognition it deserves on a larger stage. This effort is not just about celebrating music; it’s about preserving the soul of India’s diversity and ensuring it thrives for generations. IPRS is truly leading the way in honouring and reviving the roots of our nation’s creative legacy.”

Savi Shrivastav of Daira’s Jaadoo Bastar highlighted the significance of this opportunity, “The IPRS programming for festivals is really instrumental in providing a voice and a platform to unique and unexplored artists. We are elated by the support provided by IPRS and the fact that they identified the novelty in the special collaboration with Jaadoo Bastar. Daira’s Jaadoo Bastar is a folk fusion IP between Mumbai’s Art-Rock band Daira and the folk musicians of Bastar in Chhattisgarh. It is a celebration of different tribal tunes fused with Hindi lyrics and new age songwriting. The concert showcases an aroma of the rich culture in the state of Chhattisgarh and also demonstrates that music has absolutely no boundaries (Daira). Thanks to IPRS, the concert will be performed for the first time outside the state of Chhattisgarh.”

With the overwhelming response received, the IPRS Stage has solidified its position as a transformative platform for nurturing and showcasing India’s unparalleled musical diversity.

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Diwali Gifting Options from Paksha by Tarinika

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Diwali Gifting Options from Paksha by Tarinika

As the festive season of Diwali approaches, celebrate the joy of togetherness with elegant gifts from Paksha by Tarinika. Renowned for its timeless craftsmanship, Paksha by Tarinika offers a stunning collection of jewelry that makes for the perfect Diwali gift. From delicate earrings to sophisticated rings and charming bracelets, each piece is meticulously crafted, symbolizing the love and warmth shared during this auspicious occasion.

Diwali Gifting Options from Paksha by Tarinika

This Diwali, gift your loved ones something truly meaningful—a piece of jewelry that not only enhances their beauty but also carries the spirit and tradition of the festival.Additionally, Paksha by Tarinika presents a range of exquisite silver accessories, making them ideal gifts for family and friends.

These thoughtful designs blend tradition with elegance, ensuring your Diwali gifts are both stylish and sentimental.

Celebrate this festive season by choosing gifts that embody love, tradition, and elegance, creating cherished memories for years to come.
Available – https://www.instagram.com/shoppaksha/?hl=en
Price on request 

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Thakurbai Introduces New Collection Celebrating the Fusion of Tradition and Modernity

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Thakurbai Introduces New Collection Celebrating the Fusion of Tradition and Modernity

Luxury and Heritage with a Modern Twist
October 22, 2024—Thakurbai, the esteemed fashion brand co-founded by Neerja Manju and Meenakshi Dular, has just unveiled its latest collection of exquisite clothing. Inspired by India’s rich cultural heritage and designed for the modern woman, this new collection is a testament to the brand’s vision of blending traditional craftsmanship with contemporary elegance.


Neerja Manju, Co-Founder of Thakurbai, shares the inspiration behind the collection: “Our designs draw from the vibrant culture of Rajasthan and centuries-old Indian craftsmanship. We wanted to create something that honors tradition while feeling fresh and modern for today’s women.” The collection incorporates luxurious fabrics such as silks and cotton, paired with a color palette inspired by Indian festivals—vibrant yellows, deep reds, and soft pastels. The pieces are further elevated with handcrafted embroidery and block prints made by local artisans, showcasing the finest Indian artistry.

Thakurbai Introduces New Collection Celebrating the Fusion of Tradition and Modernity


Co-founder Meenakshi Dular adds, “When we started Thakurbai, our goal was clear: to celebrate India’s cultural legacy while making it appealing to a global, modern audience. My MBA in International Business has helped us grow the brand internationally, ensuring we share our heritage with customers across the world. Today, we have successfully built a strong and loyal customer base overseas, especially in regions where people appreciate the fusion of tradition with modernity. At the same time, Neerja’s creative expertise has allowed us to craft something truly unique.”


The collection is designed for women who appreciate both tradition and modernity in their wardrobe, making it perfect for festive occasions and cultural celebrations. The brand’s unique selling point is its ability to fuse heritage designs with modern trends, ensuring that it stands out in today’s competitive fashion market.
Meenakshi Dular and Neerja have worked closely with artisans to ensure that each piece reflects traditional techniques like hand-weaving and intricate embroidery while staying true to their modern vision. “Sustainability and ethical practices are at the core of Thakurbai,” says Meenakshi. “We are committed to uplifting the communities we work with, ensuring our artisans are respected and supported.”
Through this collection, Thakurbai hopes to not only connect customers to India’s cultural heritage but also provide them with a luxurious, modern aesthetic. As Meenakshi puts it, “Thakurbai is about more than fashion—it’s about preserving the artistry of the past while creating something exciting for the future.”
About ThakurbaiThakurbai was co-founded by Neerja Manju and Meenakshi Dular with the vision of blending traditional Indian craftsmanship with contemporary designs. The brand has become renowned for its commitment to sustainability, ethical practices, and celebrating India’s cultural heritage. Thakurbai continues to expand its global presence, offering unique, handcrafted pieces to customers worldwide.
 Availability:https://thakurbai.com/

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