This article is written by Reema William Mascarenhas, a student from Mumbai University.

The events that happened in the Yes Bank have been a riddle and a puzzle that has to be solved and is also a question to every individual. The only thing that is crystal clear is that thousands of crores owned by the DEPOSITORS were plundered by this bank. It may even be stated that, it is one of the biggest financial fraud which cannot be unexampled in this world. It could be rightly said that it was a chain of banks, promoters, senior bank managements, auditors, borrowers, regulators from the RBI and the key government officials who all worked hand in hand and due to which the people that is mainly the retired people, honest tax payers, etc. are the one who have suffered loss that to in masses.

There are many clear line of thinking which eventually gave rise to many query that as DHFL is into investigation for so many months and so many banks were linked with it then how Yes bank was protected and clothed? It is after months and months of investigation that this connection of Yes bank’s name came up.

Right from the beginning, Yes Bank was achieving a rise and growth of 10 to 12% but now after few years it was 30%, still no concern was shown by the regulators and no questions were asked. Did they not take any notice of this or deliberately turned a blind eye to this matter?

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There are many companies in the Indian Corporate Sector who have and always will take huge advantage from banks and then show themselves as the DEFAULTERS. They are now a squad who have excelled this skill. This squad are none other than DHFL, JET AIRWAYS, ZEE GROUPS, INDIA BULLS, RELIANCE GROUP, ETC. they are known by all of us. As we all know about these squads, Yes Bank on the other hand even by knowing the reputation of these companies willingly gave loans of over Rs. 34,000 Crores. Here comes another question from the people or the depositors whether the bank that is the Yes Bank was far asleep while lending these companies the loans of such big amount?

As we talk about so many companies who are the defaulters of this bank on the other hand comes the RELIANCE GROUP which has taken over Rs.12,800 Crores loan from Yes Bank which is now under trouble, tassel and with a lot of pressure under its name. It further said that the Reliance group will be or has rightfully committed for the repayment of all the burrowed amount from Yes Bank by monetising its assets, but how would this be possible if the group is facing so much loss and has come into the defaulters list of the Yes Bank? This is also an important question raised by the depositors.

On the flip side many other Defaulters of the Yes Bank are avoiding to even attend the investigation that was called by the Enforcement Directorate (ED) by giving excuses like sickness in one’s own family, spread of Coronavirus and also its effect in the society and the world at large, etc. these excuses could be said as genuine or a lame excuse put by these defaulters.

These excuses put forward by the defaulters are just the forms of delaying the process and also waiting for the situation to calm down at once and side by side this squad is working on the plans to plunder some other banks and if that would not work then they would depart secretly to a much silent and a secret land which would be their new retreat which can be also called as NIRVANA.

Showing light upon Mr. Rana Kapoor the promoter of the Yes Bank, I would say that he is the father of such business or rather the most clever man in this business. He is the reason due to which the Yes Bank did not get linked up with any frauds of other Banks yet. He is surely clever due to which so many innocent Depositors were plundered. As he has many properties and mainly the Rs.127 Crores London flat which surely will come in connection with this money-laundering case against him and the others. But the question that comes is will the Enforcement Directorate (ED) be able to link all such properties to the money drained from the bank by it fair investigation? The answer to this question cannot be answered unless and until their is any form of investigation is done and conclusion is created by these investigators.

In the process to reconstruct the same a Perpetual Bond of Rs.8,900 Crores have been written off by the SBI and the RBI combining without showing surprise or any sort of concern these Perpetual Bonds are said to be Quasi Equity and are not issued to the Retail Investors as per the most developed nations and their policies, where as in India these Bonds were issued to the Retail Investors and with no proper terms and conditions applied to it. At the same time, today people who had brought these Bonds thinking that they would be having higher rate of interest in the coming future are stuck with Hugh loss or rather Zero Value in market relating to their Bonds.

People also have a question of what a Perpetual Bond that is AT-1 Bond is? The answer to this is that the AT-1 Bond is a loan giving by the investors which is given to the bank. You all may have a doubt regarding to answer is gave to the question raised that if the meaning of the Perpetual Bond is the loan given by the Retail Investors to the Bank then how come it is treated as a below Equity Bond? Or was it done so that the investment by the SBI and the others to be made more inviting, interesting and also much more appealing? By these raising questions and also reaching to a no answer zone eventually makes it hard to think and also to understand the main reason and aim of why the Perpetual Bond that is AT-1 Bond was made and signed in the first place?

All these information and unsolved questions gives rise to one conclusion that was it all deliberately done to crush down and also to squash the misconduct that had happened in the interiors or rightly said the inner wall of the Bank. This also raises to one more question that is nothing but Whether the investigation at such a great speed gave an honest result ? And was it done on sincere grounds and no misconduct was done by the investigators who were investigating the matter? Or is it still a WHITE WASH or a CONCEALMENT put forward on the eyes of the society? And if the answer to these question is yes then BY WHOM and FOR WHOM was it been made to hide?

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