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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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Travel

Rapido Expands Into Food Delivery: A New Player in the Quick Commerce Race

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rapido expands into food delivery

Rapido, best known for its bike taxi and auto services, has now stepped into the food delivery segment—aiming to disrupt an already competitive market dominated by giants like Zomato and Swiggy. With a strong presence in last-mile connectivity and a wide fleet of two-wheelers, Rapido is leveraging its strengths to offer fast and cost-effective food delivery services.

What Sets Rapido Food Delivery Apart?

One of Rapido’s biggest advantages is its robust rider network, already operating in over 100 cities. By integrating food delivery into its existing infrastructure, the company is reducing delivery times and cutting operational costs. The focus is on hyperlocal deliveries, making it ideal for quick orders from nearby restaurants.

Unlike traditional platforms, Rapido may also offer more flexible pricing models and faster onboarding for local food outlets and small eateries, giving them a chance to increase visibility without high commission fees.

Tech-Driven Approach

Rapido is known for its tech-forward mindset. The food delivery arm is expected to utilize real-time tracking, AI-based routing, and customer-friendly features such as in-app chat support and scheduled deliveries. This can help enhance customer satisfaction while maintaining efficiency.

Competition and Challenges

While the move is strategic, the competition is fierce. Swiggy and Zomato have years of experience, deep market penetration, and loyal customer bases. Rapido’s success will depend on how well it can differentiate its service—whether through better delivery times, lower costs, or unique restaurant partnerships.

The Road Ahead

Rapido’s entry into food delivery reflects a broader trend where mobility and logistics startups are entering quick commerce. If executed well, Rapido could carve out a niche, especially in Tier 2 and Tier 3 cities where fast and affordable options are limited.

With growing demand for convenience and speed, Rapido’s foray into this space has the potential to reshape how consumers experience food delivery in India.

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Jewellery

BINNI Unveils The Maharani Collection Ahead of Wedding Season

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With so much to offer, BINNI’s Maharani Collection is perfect for your wedding showstopper look - chic, classy and scintillating!! Priced between INR 2500 to INR 12000 To Buy: https://www.binni.co.in/collections/heritage-pachi

D2C brand BINNI announces the launch of its new collection – The Maharani Collection curated for modern brides and bridesmaids, just before the wedding season. 

Inspired by the roots of India blended into contemporary tastes; BINNI’s Maharani Collection draws inspiration from regal designs and the heirloom jewellery passed through generations to Indian Queens and Princesses and binds it with modern stones and unique designs for the Brides of today.

This collection brings together style, individuality, and craftsmanship — everything that today’s bride and her squad are looking for. They are not just more aware and fashion-forward but also practical — they want jewellery that feels personal, matches their outfit, expresses who they are and should be equally statement and trendy – BINNI’s Maharani Collection offers just that. What’s even better, It vibes with both traditional and western attire!!

This Collection has everything and more that a Bride may need to curate her entire wedding look making BINNI a one stop shop this wedding season. With artisanal craftsmanship the ornaments are set in both gold and silver toned frames offering: 

  • Detailed chokers, long and short layered necklaces in 2 or multiple layers,  eccentric haslis, delicate beaded necklaces, bead mat chokers – BINNI’s got your neck covered, Literally! 
  • Match it with long earrings, jhumkas, double jhumkas, chand balis, danglers, statement earrings and more
  • Complete your look with intricate Kadas and cocktail Rings
  • Take your accessorizing game a notch higher with maang tikas, earring saharas, hathful, anklets and more
  • The modern bride should slay every accessory, so put on your glasses or sunnies with added glass chains
  • Adorn your wrists with matching watches that are not only studded with kundan and beaded in pearls but also have danglers, Woohoo!

The collection is a mix of varied jewel forms like Pacchi kundan and Quartz. Pearls, beads, semi precious stones, and AD add to the detailing of every jewel. A true Paarkhi will know how delicately traditional and modern Motif’s have been added to level up simple designs. The elephant and peacock motifs add to the royal touch while floral and paisley add a feminine charm.

With so much to offer, BINNI’s Maharani Collection is perfect for your wedding showstopper look – chic, classy and scintillating!!

Priced between INR 2500 to INR 12000

To Buyhttps://www.binni.co.in/collections/heritage-pachi

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Lifestyle

Introducing The Gael Loafers by LANGUAGE®

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The Gael Loafer by LANGUAGE®

The Gael Loafer by LANGUAGE® 

It is crafted from genuine burnished leather with a soft leather lining for enhanced durability and a polished finish. It features a removable, synthetic-lined memory foam footbed for personalized comfort. A lightweight EVA sole ensures flexibility and ease of movement for all-day wear. Designed for versatility, it pairs well with both formal trousers and casual denims. Offered at ₹5,990, the Gael combines refined aesthetics with practical comfort for everyday sophistication.  

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