• The ED had accused Kapoor, his family members and others of receiving hundreds of crores of rupees as kickbacks for sanctioning huge loans through companies controlled by his family.
The Delhi High Court on Friday granted bail to former Yes Bank chief Rana Kapoor in a ₹466.51 crore money laundering case filed by the Enforcement Directorate (ED).
In 2020, Kapoor was arrested by the Enforcement Directorate under the Prevention of Money Laundering Act in a money laundering case.
The former banker is currently lodged in Navi Mumbai's Taloja Jail.
The probe agency had said that Kapoor, his family members and others received hundreds of crores of rupees as kickbacks for sanctioning huge loans through companies controlled by his family.
Gautam Thapar, Avantha Realty Ltd., Oyster Buildwell Pvt. Ltd. and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion and misappropriation of public money during the period from 2017 to 2019, causing a loss of Rs. 466.51 crore to Yes Bank.
A special judge bench of the trial court had rejected the bail plea of Kapoor and said that the allegations against the banker were serious and serious in nature. The court, however, granted bail to 15 co-accused.
Before the trial court, the bail application was opposed by the Enforcement Directorate on the ground that Kapoor was instrumental in the fabrication of the proceedings of the offence.
The counsel representing Kapoor, however, argued that the agency did not arrest him during the probe, and since the charge sheet has already been filed, no purpose would be served by sending him to custody.
While rejecting Kapoor's bail plea, the special judge had observed that the 15 accused persons were mere hands and appear to be doing certain acts or omissions while taking instructions from Gautam Thapar or Rana Kapoor as per the statements mentioned in the complaint. . as their agent or employee.
Meanwhile, the Securities and Exchange Board of India in September imposed a penalty of ₹2 crore related to the mis-selling of 'Additional Tier 1 bonds' to investors.
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