Saturday, January 23, 2021
Markfed Sohna New

verka new year

Innocent Hearts INNOKIDS Banner

Yes Bank crisis: ‘Don’t approach courts immediately’

- Advertisement -

New Delhi, March 9, 2020 –

Reacting to the Yes Bank crisis, senior advocate Vikas Pahwa on Monday advised investors and depositors not to approach the courts immediately.

“At this stage my advice to investors would be to wait and watch and do not approach any court which may create a situation of panic,” Pahwa told IANS.

He further stated that Yes Bank in crisis is a great concern for people of the country.

“When a bank fails, millions of lives are affected. The RBI has to be extremely careful in dealing with this matter, as this may have a chain reaction. The government has to adopt drastic measures to uplift the economy,” Pahwa said.

Speaking further on the issue, the senior advocate stated, “Unfortunately we don’t have a robust banking resolution mechanism in our country. In my experience whenever the ED is involved in any matter, the chances of resolution become bleak. The ED normally takes hasty steps to attach the properties without appreciating the impact of the same on the going concerns.”

YesBank Scam: ED probes investments by Rana Kapoor’s daughters

Yes Bank scam: CBI issues LOC against all 7 named in FIR

Yes Bank founder Rana Kapoor ‘laundered’ Rs 4,300 crore: ED

Yes Bank scam: Kapoor, family got Rs 600-cr kickback as loan

Yes Bank case: CBI raids 7 locations in Mumbai

PhonePe transactions back to normal after Yes Bank fiasco

“Before ED initiates any process of seizure or attachment of properties, the RBI should have a pragmatic look at the same and assure the protection of interest of the investors in the bank. This issue should be delicately handled,” he said.

Recently, the RBI superseded the Yes Bank board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month.

The RBI said that the bank’s board was superseded “owing to serious deterioration in the financial position of the bank”.

The CBI on Sunday also registered a case against the former MD and CEO of Dewan Housing Finance Limited (DHFL) as well as its promoter Kapil Wadhawan on charges of corruption.

The CBI has recently taken over investigation into the Rs 2,267-crore Employees’ Provident Fund fraud in Uttar Pradesh, where hard-earned savings of power sector employees were invested in DHFL.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -Bibi Jagir Kaur Guru Gobind Singh Prakash Purab Banner

Stay Connected



Talk show legend Larry King dies at 87

Los Angeles, Jan 23, 2012- Talk show legend Larry King passed away on Saturday, aged 87. He was admitted to hospital earlier this month after...

Bigg Boss 14 - The Latest




Exodus of Kashmiri Pandits

Exodus of Kashmiri Pandits: Unending wait for justice – by Deepika Bhan

Why is it difficult to get justice? This is a question that haunts the minuscule community of Kashmiri Pandits. Each year January 19 is...
Human Brain

Awareness is life – by DC Pathak

It is interesting that of all the professions it is a career in Intelligence that works for sublimating three important mandates that governed life....
US Capitol Violence

Political Violence in Washington – by DC Pathak

The presidential election in the US marked by an unusually confrontationist run up to the polls and an equally bitter post-poll phase of transition,...


Health & Fitness

Pancreatic Cancer

Novel protein may improve safety of therapy for pancreatic cancer

London, Jan 23, 2021- Researchers have identified a protein that may represent a novel therapeutic target for the treatment of pancreatic cancer. Using this protein as a target, the team successfully created a CAR T cell therapy -- a type of immunotherapy -- that killed pancreatic cancer cells in a pre-clinical model. "This is an exciting development," said John Marshall, Professor from...

Gadgets & Tech

error: Content is protected !!