Yes Bank co-Founder Rana Kapoor Granted Bail in Money Laundering Case


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New Delhi, Nov 25, 2022: Delhi High Court on Friday granted bail to Yes Bank co-founder Rana Kapoor in a Rs 466.51-crore money laundering case registered by the Enforcement Directorate (ED).

Kapoor had been arrested by the federal investigating agency under the Prevention of Money Laundering Act (PMLA) in 2020.

The ED has raised accusations that Kapoor, his family members and others acquire benefits worth hundreds of crores through companies controlled by his family as recompensations for sanctioning huge loans.

In September, The Central Bureau of Investigation (CBI) had gone ahead and filed a charge sheet against Kapoor and Avantha Group promoter Gautam Thapar in the Rs 466.51 crore bank fraud case.

The banker is currently imprisoned in Taloja jail in Navi Mumbai.

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