rana kapoor:  Yes Bank founder Rana Kapoor granted bail in Rs 300 crore fraud case - Times of India

rana kapoor: Yes Bank founder Rana Kapoor granted bail in Rs 300 crore fraud case – Times of India

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NEW DELHI: A special Prevention of Money Laundering Act (PMLA) Court on Wednesday granted bail to Yes Bank founder Rana Kapoor in connection to a fraud case worth over Rs 300 crore.
Apart from Kapoor, businessman Gautam Thapar and seven others were also granted bail.
The case pertains to allegations in the sale of a property situated on Amrita Shergill Marg in Delhi to a company owned by Rana Kapoor’s wife, Bindu Kapoor, for which a separate FIR had been registered by the Central Bureau of Investigation (CBI) in Mumbai last year.
Kapoor had moved the bail application before the special court after he was summoned by the court which took cognisance of a charge sheet filed by the Enforcement Directorate (ED).
In December last year, the ED had registered a money laundering case based on complaint registered by the Central Bureau of Investigation (CBI) against Kapoor, his wife Bindu and promoter of Avantha Group Gautam Thapar. It had pegged the loss at Rs 466.51 crore.
The FIR claimed that Rana Kapoor, obtained illegal gratification in the form of a property belonging to Avantha Realty Ltd (ARL) in a prime location in Delhi at much less than the market rate after Thapar’s firm was given a loan as well as concessions in existing credit facilities by the lender.
However, the former MD and CEO of Yes Bank will continue to be lodged in jail in relation to other cases. Gautam Thapar will also remain in jail.
Thapar is currently in judicial custody in Delhi’s Tihar jail after being arrested by the ED in August last year in a related case, while Rana Kapoor is lodged in Taloja jail in neighbouring Navi Mumbai after his arrest in Yes Bank scam in March 2020.
(With inputs from agencies)



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