Fraud case; Yes Bank founder Rana Kapoor gets bail
Yes, Bank founder Rana Kapoor on Wednesday was granted bail over Rs 300 fraud case. Special PMLA Court, in Mumbai grants bail. The Delhi High Court earlier today sought a response from the Enforcement Directorate (ED) on former Managing Director and CEO of Yes Bank, Rana Kapoor’s bail plea in a multi-crore money laundering case.
Issuing a notice to the ED, the bench of Justice Manoj Kumar Ohri posted the matter for further hearing on March 11. Advocates Siddharth Aggarwal and Stuti Gujral represented Rana Kapoor in the matter while Advocate Amik Mahajan appeared on behalf of the ED. On February 9, the bail plea of Avantha Group promoter Gautam Thapar, who was arrested in connection with the alleged misappropriation of a Rs 515 crore loan from Yes Bank, was dismissed by the same bench.
The ED had opposed the bail application of Thapar, saying all allegations made against the latter have been corroborated with the evidence and statements given by employees of Avantha Group and Yes Bank. The Central Bureau of Investigation had also filed a charge sheet against Rana Kapoor, Gautam Thapar, among others in a bank loan fraud case of more than Rs 1,700 cr in the case registered on March 2020.
