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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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Fashion

Aarti Vijay Gupta Showcased Postcard from Kashmir collection using LIVA Reviva at London Fashion Week 2024

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Aarti Vijay Gupta Showcased Postcard from Kashmir collection using LIVA Reviva at London Fashion Week 2024

Liva Reviva is a recycled sustainable fabric from the Birla Cellulose group

Celebrated designer Aarti Vijay Gupta collaborated with Liva Reviva to showcase sustainable luxury fashion at London Fashion Week in September 2024. The debut of her Spring/Summer 2025 collection, “Postcard from Kashmir,” beautifully highlighted the fusion of sustainable materials with high-fashion design. Liva Reviva, known for its eco-friendly fibres, added a unique touch to the collection, captivating audiences with its versatility.

Aarti Vijay Gupta Showcased Postcard from Kashmir collection using LIVA Reviva at London Fashion Week 2024

Aarti Vijay Gupta’s collection was a stunning portrayal of Kashmir’s landscapes and cultural heritage, with pieces meticulously crafted using LIVA Reviva-based fabrics. The garments, made from up to 30% recycled textile waste blended with FSC-certified wood pulp, offered a sustainable alternative to traditional viscose, while remaining soft, breathable, and luxurious. The collection featured Kashmiri miniatures, Papier Mâché art, and Namda embroidery, with traditional art forms modernized through innovative silhouettes and design sensibilities. Each piece, from flowing silk to elegant printed linen, all demonstrated versatile nature of LIVA Reviva based fabrics that can be seamlessly integrated with heritage fibres.

Aarti Vijay Gupta Showcased Postcard from Kashmir collection using LIVA Reviva at London Fashion Week 2024

The runway showcased a harmonious blend of style and sustainability, with fluid drapes, intricate detailing, and 3D engravings bringing eco-conscious fashion to life. Both menswear and womenswear were included, with designs inspired by Kashmir’s green pastures and towering mountains. The collection featured photo prints from Gupta’s iPhone, capturing the region’s essence, which contrasted beautifully with sophisticated dresses and co-ord sets. For the first time, Gupta ventured into mesh-printed dresses, introducing fitted bodycon styles adorned with striking photo prints—an exciting departure from her signature oversized, effortlessly chic designs. The collection’s easy separates, cleaner silhouettes, and toned-down color palette make the pieces versatile, allowing them to be mixed and matched for different looks, while still paying homage to Kashmir’s rich cultural tapestry.

Aarti Vijay Gupta Showcased Postcard from Kashmir collection using LIVA Reviva at London Fashion Week 2024

Commenting on the successful collaboration, Mr. Sree Charan, VP Marketing, Global Head – Brands, Birla Cellulose, Aditya Birla Group, said, “We are immensely proud of our partnership with Aarti Vijay Gupta. Her vision for combining sustainable materials with contemporary design has truly brought to life what LIVA stands for – fashion that is beautiful, functional, and environmentally responsible.”

Designer Aarti Vijay Gupta also expressed her excitement, “Presenting my collection ‘Postcard from Kashmir’ at London Fashion Week using LIVA Reviva fibres was an incredible experience. These fibres provide the perfect canvas for expressing the beauty of Kashmir while remaining true to sustainable practices. I believe this is the future of fashion, where tradition meets innovation with a purpose.”

LIVA’s collaboration with Aarti Vijay Gupta is part of its ongoing efforts to lead the fashion industry towards more sustainable practices. With the introduction of fabrics made with advanced fibres that minimize waste and promote responsible manufacturing, LIVA continues to empower designers to create fashion that is as mindful as it is beautiful.

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Fashion

Voyage Eyewear Launches the DRIFT Collection, Premier Sports Sunglasses in India

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Voyage Eyewear has launched their new premier sports collection

Voyage Eyewear, celebrated for its cutting-edge and fashionable eyewear solutions, is excited to unveil its inaugural sports sunglasses collection in India, named the DRIFT Collection. This launch marks a pivotal moment for the brand, blending advanced technology with sleek aesthetics to cater to the needs of sports enthusiasts and active individuals nationwide.

The DRIFT Collection is meticulously crafted for top-tier performance, offering unmatched comfort, durability, and style. Each pair of sunglasses is engineered to improve visual clarity and shield against harsh elements, enabling athletes and adventurers to maintain peak performance without compromise.

Highlights of the DRIFT Collection:

  • Advanced Lens Technology: Featuring high-performance lenses that deliver superior UV protection, minimize glare, and enhance contrast, ensuring clear and unobstructed vision in any condition.
  • Ergonomic Design: Tailored with athletes in mind, the lightweight and ergonomic frames provide a secure and comfortable fit, even during the most intense activities.
  • Durable Materials: Constructed from robust yet flexible materials, the eyewear is built to endure the demands of sports and outdoor adventures, guaranteeing long-lasting performance.
  • Stylish Aesthetics: Combining functionality with modern fashion, the collection offers a variety of sleek, contemporary designs to suit diverse preferences.

“We are thrilled to introduce the DRIFT Collection to the Indian market,” said Sahil Sharma, Director of Marketing at Voyage Eyewear. “Our team has worked diligently to develop a product that not only meets the highest performance standards but also embodies our commitment to style and innovation. We are confident that this new collection will set a new benchmark for sports eyewear in India.”

The DRIFT Collection will be available on the Voyage Eyewear website. To celebrate the launch, Voyage Eyewear is offering an exclusive promotion with an introductory price of ₹1499 to 1799. To get our latest collection  please visit our website or leading e-commerce platforms like Myntra, Amazon, Nykaa etc.

About Voyage Eyewear:

Voyage Eyewear is a premier provider of high-quality eyewear, renowned for its dedication to merging style, functionality, and innovation. Committed to delivering exceptional products that meet diverse needs, Voyage Eyewear continues to set the standard in the eyewear industry.

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Events

Book release program held on the eve of Prime Minister’s birthday.

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Book release program held on the eve of Prime Minister's birthday.

Union Minister of state Shri Harsh Malhotra, BJP President Shri Virendra Sachdeva and BJP National Minister Shrimati Alka Gurjar released the book.

The book is themed on the changing demography of Delhi written by Richa Pandey Mishra, President of Delhi BJP Mahila Morcha.

Book release program held on the eve of Prime Minister's birthday.

The book has already appeared in “Amazon Best Seller” category in online sale.

16 September 2024, Delhi

The book “Delhi That Matters” was released today at the Constitution Club in Delhi. The book was released by Central Government Minister of state Mr. Harsh Malhotra, BJP Delhi State President Mr. Virendra Sachdeva and BJP National Minister Mrs. Alka Gurjar.

Book release program held on the eve of Prime Minister's birthday.

Through this book, the life of the people who came from UP, Bihar, especially Purvanchal in Delhi and their significant role is discussed.

The book is a combination of short stories and facts and sensitively discusses the burning issues of Delhi like Yamuna river pollution, air pollution, women’s safety.

During the launch of the book, Union Minister Harsh Malhotra said that it is very important to have thoughtful people in politics, he congratulated Richa Pandey Mishra for writing this book.

BJP State President Shri Virendra Sachdeva said that this book talks about such issues which the people of Delhi are facing every day. Virendra Sachdeva ji said that it is a matter of pride for BJP workers to have a deep understanding of such issues.

BJP National Minister Smt. Alka Gurjar also congratulated Richa Pandey Mishra for the simplicity with which serious topics like women’s safety were raised in the book.

The author of the book, Richa Pandey Mishra said that the purpose of this book is to draw attention towards the people of Delhi who are a big and important part of this city but somewhere they have been considered invisible by the policy makers.

The book also contains short stories related to Chhath Puja and Purvanchali folk songs.

Along with many state officials of Delhi BJP, many well-known writers, thinkers and intelligentsia of Delhi were also present in the release program.

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